Real estate prices in Norway fell by 0.4 percent in January after adjustment for season, the new figures come from Real Estate Norway (Eiendom Norge). Nominal prices rose by 2 percent.
By comparison, house prices rose by 3.1 percent on a country basis in January last year. Housing prices are now 2.2 percent lower than a year ago.
There has been a seasonal adjusted fall in prices in nine of the ten past months.
– “The price trend in January was lower than usual,” says Christian Vammervold Dreyer, Managing Director of Real Estate Norway.
In the last ten years, Real Estate Norway has not seen such a slight development as in this January. Usually, the strongest growth in the housing market comes in January.
“The trend in real estate prices in Norway is still falling,” says Dreyer.
In January, 6,762 homes were sold in Norway, which is 8.4 percent more than in the same month last year. On average, a house is now on the market for up to 58 days, which is two weeks more than a year ago.
© NTB Scanpix / Norway Today