Housing market shows first clear signs of cooling
More homes are taking longer to sell and sellers are cutting asking prices more often, while the market remains tight.
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The Dutch housing market cooled on several fronts at once in October. According to measurements by Huisverklikker, almost 6,000 asking prices were reduced and the number of mortgage applications fell by 30 per cent compared with October last year.
The figures come from an analysis by Huisverklikker, which tracks housing supply and price changes on Funda. In October, the service recorded 36,652 mortgage applications through HDN, compared with 52,586 in September. According to Huisverklikker, part of the decline may be related to a shift between months: in September, many buyers submitted their applications earlier after lenders raised their rates.
Sellers adjusted their prices more often. Huisverklikker counted 5,935 reductions in October, an average of 19.8 reductions per hundred new listings. The average reduction was 5.7 per cent. On 31 October, 14.5 per cent of the available supply had been offered at a lower price at least once in the preceding three months; at the end of September, this was still approximately one in eight homes.
Supply also increased. At the beginning of September, according to the measurement, 59,100 homes were for sale; at the beginning of November, that figure was 66,600. On 4 November, Funda reported more than 66,000 available homes for sale, compared with approximately 54,000 a year earlier. The larger supply does not in itself mean that the market has become loose.
Selling times increased. Of existing homes that went under offer in October, half had been on the market for at least 27 days, four days longer than in September. The share of homes that went under offer within thirty days fell from 66 to 57 per cent. The difference was visible in the major cities: in Rotterdam, the median time on the market rose from 28 to 39 days in one month.
The price trend is not yet the same as a broad housing crash. According to CBS and the Land Registry, the price index for existing homes fell by 0.1 per cent in August and 0.4 per cent in September compared with the preceding month. Year on year, prices in September were still 2.9 per cent higher. NVM reported an average selling price of €503,000 in the third quarter, 1.8 per cent more than a year earlier.
For buyers, the larger supply means more choice and potentially slightly more room for negotiation. Affordability, however, remains limited by mortgage rates and high purchase prices. For sellers, a longer selling time may be a reason to reconsider the asking price. Huisverklikker’s measurements only began in June 2026 and therefore do not constitute a complete historical series.
Also show where in Europe and in the world
Both sides of the figures
▲ Bright spots
- Buyers have more choice: according to Huisverklikker, available supply rose from 59,100 at the beginning of September to 66,600 at the beginning of November.
- NVM reports that almost two-thirds of homes sold were still sold above the asking price, but less often than a year earlier.
▼ Concerns
- The number of mortgage applications was 30 per cent lower in October than a year earlier, according to HDN figures in Huisverklikker’s analysis.
- According to NVM, the average purchase price was €503,000, while mortgage rates also affect affordability.
Critical note
The signals point to cooling, but not to broad affordability. The price index fell month on month in August and September, while prices in September were still 2.9 per cent higher than a year earlier. In addition, Huisverklikker’s measurements only began in June 2026.
Who notices what
- Households
- Buyers have more choice and potentially more room for negotiation, but interest rates and prices remain significant factors.
- Businesses
- Estate agents and construction companies may face longer selling times and more critical buyers.
- Investors
- A cooling market could affect property valuations and the marketability of real estate.
Every point comes from the article’s sources and was included in the fact check.
One story, several perspectives
What is established
- The supply of homes for sale has increased in recent measurements.
- Asking prices are being reduced more often and homes are taking longer to sell.
- According to NVM, the national market remains tight.
- Mortgage rates and high purchase prices limit affordability.
Left
Arguments The cooling gives buyers slightly more room, but high prices and interest rates keep first-time buyers and lower-income households out of the market. Building more affordable rental and owner-occupied homes remains more important than waiting for a market correction.
Values Affordability, equal access to housing and protection for people without substantial personal wealth.
Consequences Without additional construction and regulation, greater room for negotiation may mainly help households that already have sufficient income and savings.
Centre
Arguments More supply and more realistic asking prices could make the market healthier, but the figures do not yet justify concluding that the shortage is over. Policy must monitor construction output, access to finance and regional differences at the same time.
Values Market forces combined with predictable government policy and financial stability.
Consequences A gradual cooling could help buyers without creating the same risks as a sudden price fall.
Right
Arguments The market responds to interest rates, risk and scarcity. Giving sellers more room to set prices, along with fewer rules for construction and moving on, could increase supply more quickly.
Values Ownership, freedom of choice and a limited but targeted government.
Consequences Greater supply and lower construction costs could moderate prices, while excessive regulation could slow investment and new construction.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The key figures were checked directly in Huisverklikker’s recent analysis and with NVM and Funda. The text distinguishes between cooling and continuing scarcity and adopts the limitations of the measurements.
- confirmed In October, 36,652 mortgage applications were recorded, 30 per cent fewer than a year earlier. — Huisverklikker lists HDN as the source and gives both figures. source
- confirmed Huisverklikker counted 5,935 asking-price reductions in October. — This is stated in the October analysis and is based on its own measurements. source
- confirmed The CBS price index fell month on month in August and September. — The analysis refers to CBS and the Land Registry, StatLine 85773NED. source
- confirmed The average selling price in the third quarter was €503,000. — NVM gives this figure in its quarterly publication. source