Home prices in Norway fell by 0.6% in November

Houses - homesPhoto: Håkon Mosvold Larsen / NTB
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Home prices in Norway fell by 0.6% in November. At the same time, a record number of homes were sold.

“Home prices in Norway fell in November, and with falling prices through the second half of 2021, house price developments now follow the normal economic cycle,” Henning Lauridsen, CEO of Eiendom Norge, stated in a press release.

Adjusted for seasonal variations, prices rose by 0.3%. House prices are now 6.6% higher than a year ago, figures from Eiendom Norge, Finn, and Eiendomsverdi show.

“With a normal fall in house prices in December, this means that house price developments throughout the year will end somewhat lower than Eiendom Norge’s forecast for 2021 of an increase of 7.5%. A more moderate development in house prices is good news for the Norwegian economy and for the opportunity to become a homeowner in Norway,” Lauridsen said.

A total of 8,508 homes were sold in November, which is 5.1% more than in November last year. So far this year, 98,453 homes have been sold in Norway, which is 2.9% more than in the same period in 2020.

“In November, there was a record number of sales, and we will almost certainly surpass 100,000 sold second-hand homes in Norway in 2021 for the first time. The growth in the number of sales is particularly large in Rogaland, and after almost a decade of weak development, the housing market in this region is now healthy,” Lauridsen stated.

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

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