"House Price Developments in Europe On 14 February 2012 the European Commission released its first Alert Mechanism Report (AMR) on macroeconomic imbalances in Member States. Based on a scoreboard the European Commission examines economic indicators to identify internal and external imbalances. The scoreboard is made up of ten indicators in total. Among the new indicators are house price indices showing house price developments for 27 EU Member States. Earlier only a smaller data set was presented as ""experimental house prices"". In addition, indices based on 2005=100 were released on the Eurostat website. As a consequence a European picture of national housing markets is now publicly available. The paper will cover the data offering links for future updates envisaged quarterly for many countries - and explain methodological challenges for achieving the compilation in a harmonised manor. It will analyse the relationship with price data (HICP) and economic development i.e. growth or decline. Furthermore the paper will touch upon the impact of high and low ratios of owner occupied housing on house price developments."