Less at viewings and quieter bidding rounds in August

Housing marketHousing market.Photo: Krister Sørbø / SCANPIX

August may seem to be a calmer month for the housing market, which since April has surprised economists and brokers with unusual price developments.

Since the new year, house prices have risen by 6.7 percent, and 2020 is set to beat the record year 2019 in the number of sales, writes Finansavisen.

At the same time, August seems to be a weaker month than normal.

– “People have a perception that the housing market is hot, and it was so far in July, but that is no longer the case,” says general manager of Krogsveen department Sagene, Caroline S. Stensrød, to the newspaper.

August is usually one of the best months for home sales as many are looking for a new place to live. This year, more than 100,000 people have also been offered study slots. However, this year, August sales started abnormally early, and 45 percent more homes were sold in July 2020 compared with last year.

Stensrød believes that the housing market’s coverage in the media has affected home buyers.

– “Precisely the fact that a lot has been written about how well the housing market has gone, has made more people now afraid to buy and would rather wait until October / November. We get feedback on that,” she says.

© NTB Scanpix / #Norway Today


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