Norway registered record-high home price growth in January

Home prices in Norway rose by 4.8% in January. This is the highest price increase in January since the home price measurements began.

“It is normal for home prices to rise a lot in January; it is known as the so-called January effect. But the rise in home prices in January this year is the strongest in the history of home price statistics, and it is broadly rooted throughout the country,” CEO of Eiendom Norge Henning Lauridsen stated.

New figures presented by Eiendom Norge, Eiendomsverdi, and Finn.no on Thursday show that home prices in Norway rose by 4.8% in January. Adjusted for seasonal variations, prices rose by 2.1%.

Lauridsen says that the strong rise must be seen in connection with the supply side of the housing market.

“There were few homes on the market at the beginning of the year, and there is a significant decrease in the number of new homes on the market in January compared with previous years. The number of unsold homes is at a significantly lower level than in January 2017,” Lauridsen added.

A total of 5,416 homes were sold in Norway in January, which is 22% less than in the corresponding month in 2021.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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