Sharp fall in residential sales – fear of loads of layoffs

Sales of new homes were almost halved in April, compared with the same month last year. So far this year, new home sales are down by almost a third.

All the arrows point downwards for the housing producers. Now CEO Per Jæger of the Housing Producers’ Association warns against dramatic consequences if developments continue and nothing is done.

“It can be quite dark for the industry,” he said in connection with the presentation of the April figures on Wednesday.

They show a 45 percent decline in sales compared to April last year. Total new home sales so far this year are down 29 percent compared to the same period last year.

Commencement of construction projects in April is down 32 percent compared with April in 2019, while overall commissioning so far this year is down 11 percent compared to last year.

© NTB Scanpix / #Norway Today