House prices rose by 1,2% in March. Looking back at the last 12 months, house prices are now at the same level as a year ago.
This means that the housing price fall in the autumn of 2022 has been “eaten up”.
For home buyers the supply of homes for sale is important, combined with demand from buyers. There are fewer homes listed for sale than last year, and there are slightly fewer unsold objects at the end om March than it was earlier this year. After the Easter Holiday, now in April it seem like the lack of homes put up for sale continues.
Usually there is a spring flow of homes for sale after Easter holiday, but so far it has not occured.
Prices could continue to raise if the lack of homes on the market continues. However mos experts believe that we will see a decline in prices forwards. We have not yet seen the top of the interest rates!
The market is still somewhat clmer than other periods of rising prices, sales take a little bit longer time. That is an advantage for the buyers. But be aware that the market is selective. If you go for the most attractive objects, you will experience tough bidding rounds where you have to stretch your rope or risking not to reach out in the competition.
If you want to have an non-binding talk or digital meeting about the market or your possibilities on the market, please do not hesitate to contact me.
Download my booklet of home to buy a home in Norway
Leave a Reply