Housing bubble index Q4/2025: Rent increases and slump in new construction slow down bubble risk

Rising rents and a slump in new construction are slowing down the risk of a bubble, but housing prices are still not completely out of the woods. All sub-indices are declining. The sub-index for price-income (-2 points) shows the sharpest decline. In contrast to the last quarter, however, there are only moderate changes across all indices. The overall index declines marginally (-1 point).