An index based on actual registrations
The Ministry of Land, Infrastructure, Transport and Tourism's Existing Home Sales Volume Index is constructed from ownership-transfer registrations resulting from property sales. It measures purchases of existing housing by individuals across Japan, major regions and metropolitan areas. Unlike listing counts or sentiment surveys, the underlying data represent actual transfers of registered property rights. The index uses the 2010 average as 100, enabling changes in transaction volume to be compared over time.
May combined index at 125.0
Final May 2026 data released on August 31 put the seasonally adjusted combined detached-house and condominium index at 125.0. The figure excluding homes under 30 square metres was 114.3. Detached houses stood at 124.6, condominiums at 124.2 and condominiums excluding units below 30 square metres at 100.2. The separate series make it possible to distinguish patterns in family housing and smaller units often associated with urban investment demand.
Use volume together with price indicators
The index measures transaction volume rather than transaction prices, so it cannot establish whether Japanese property became more or less expensive in a given month. Its value increases when paired with price indices: analysts can distinguish a market where rising prices coincide with strong turnover from one where prices remain high but liquidity is weakening. It can be used alongside official property-price indices, land-price data and REINS transaction statistics.