January turned out to be anything but a slow month in Norway’s housing market. Prices rose, and the number of homes sold broke a new record.
Numbers released this week by the brokers’ association Eiendom Norge showed prices up an average of 3.6 percent over January of 2018. That was described as “moderate” compared to average price rises in January, and a sign of an “unusually” good balance between supply and demand.
Sales volume, however, wasn’t moderate at all, up 7.3 percent over last January. A total of 7,254 homes changed hands, prompting association director Christian Dreyer to say that “there have never earlier been so many homes sold as in January this year.” He added that there was a “marked increase” in sales “in all regions” around Norway.
He and his colleagues expect moderate price development throughout the year, because of a lot of new housing units coming on the market.