The economy of Baltic countries has quickly adjusted to new circumstances brought about by the global crisis. Despite of recovering of economy the growth has remained slow. The housing market and financial sector are tightly connected. Different factors influence the average housing prices, but there is always a link between credit and house prices. For example the housing boom in Estonia was mostly driven by a large credit supply and favourable loan conditions. Household’s financial situation in Baltic countries has improved and the stock of housing loans is growing. The aim of this paper is to outline the dynamics of the housing market after the crisis and compare the situation in Baltic countries.