Statistics Norway (SSB) estimates home prices will fall over the next two years.
“We estimate that home prices will fall in 2023 and 2024. The reason is mainly weaker real income growth as a result of increased prices, lower employment, and higher interest rates,” managing director Geir Axelsen at Statistics Norway stated.
The prediction is that home prices will increase by 5.7% in 2022, and then fall by 2.5% in both 2023 and 2024.
In recent years, the growth in home prices has been relatively high, and in the second quarter of 2022, they were almost 20% higher than the same quarter two years earlier.
Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance
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