House prices in Norway fell 0.8% month-over-month in October of 2022, following a 0.6% fall in September, as rising interest rates hurt housing demand. The average price for a home in Norway was NOK 4,328,496 at the end of October. Prices in Oslo and Hamar showed the biggest decline (-1.9%). It took an average of 29 days to sell a home in October, which is the same as in September. Bergen has the fastest sales time with 19 days. Tromsø had the longest sales time with 37 days. Compared to the same month last year, house prices rose 2.8%, below 4.3% in September. source: Eiendom Norge/Real Estate Norway
House Price Index MoM in Norway averaged 0.50 percent from 2003 until 2022, reaching an all time high of 2.40 percent in September of 2003 and a record low of -2.70 percent in October of 2008. This page includes a chart with historical data for Norway House Price Index MoM. Norway House Price Index MoM - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
House Price Index MoM in Norway is expected to be -0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway House Price Index MoM is projected to trend around -0.60 percent in 2023 and 0.50 percent in 2024, according to our econometric models.