The nationwide index fell 1.3% to 128.8
Japan's Ministry of Land, Infrastructure, Transport and Tourism reported on July 31 that the seasonally adjusted Existing Home Sales Volume Index for detached homes and condominiums fell 1.3% month on month to 128.8 in April 2026. Excluding homes below 30 square meters, the combined index was 117.3, down 0.5%. The series uses 2010 as a base of 100 and is constructed from ownership-transfer registration data for existing homes acquired by individuals. It measures transaction volume rather than prices and therefore serves as a liquidity indicator.
Detached homes rose 1.2% while condominiums fell 4.1%
The seasonally adjusted detached-house index increased 1.2% to 128.3, whereas the condominium index declined 4.1% to 129.2. Excluding condominium units under 30 square meters, the index fell 3.0% to 104.3. The ministry publishes both measures because individual purchases of small one-room condominiums have become significant. The series also includes some second homes, vacation homes and investment properties that are not counted in the five-year Housing and Land Survey's standard existing-home transaction measure.
Transaction volume should be analyzed separately from prices
Even when resale-home prices remain high, lower transaction volume can lengthen the time required to find a buyer. Conversely, price adjustments can sometimes restore activity. Sellers should therefore view transaction and price indicators separately. For an owner living overseas, a longer marketing period also extends fixed-asset tax, management fees and repair-reserve contributions. The national index cannot predict the saleability of a specific property, but combining it with local completed sales, inventory, price reductions and time-on-market data can support a more realistic selling strategy.