Housing prices fell in December

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Norway’s red-hot housing market cooled down a bit in December, with prices on average falling 1.3 percent nationwide from the month before. They were still up 5.2 percent from the same month in 2020, however, with the average price for a single-family unit now set at NOK 3.95 million.

Prices presented Wednesday by the national real estate organization Eiendom Norge are much higher in cities than rural areas with Bodø in Northern Norway, for example, logging a price hike of 13.3 percent. Oslo, however, recorded the weakest price rise in December of 2.2 percent over the same month in 2020.

The actual numbers of housing units sold, meanwhile, set a new record of 4,055 for the month, 6.4 percent higher than in December 2020. Last year was the first to ever record an annual total of more than 100,000 sales transactions, after 102,596 homes changed hands in the course of 2021.

newsinenglish.no staff