This September we have seen quite significant changes in the home buying market in Norway.
Therefore I have to write about the market and housing prices – AGAIN.
Hope you are OK with it.
After all, to keep oneself updated on the market is a big factor for achieving a successful purchase!
Two important factors implicate a development towards a buyers’ market this autumn:
- Decrease in prices with 2,2 % in Oslo – 2,5% in september
- More houses up for sale in september – 17% more than last year
Falling prices are expected for the rest of the year and probably also in 2023. Then it will start to increase again according to the forecasts. The sales volume is now back on pre pandemic level.
The reason for the decrease in prices is obviously the increased mortgage interest and increase in prices on electricity and other living costs.
A buyers’ market is good news if you are buying a home in Norway for the first time.
If you already have a property to sell and want to buy a new one, and your mix of equity of mortgage is comfortable, there is no reason why you should not buy a new home now, if you feel it is needed.
Just remember the rule – Sell and buy in the same market
Timing is everything