House prices in Norway remained unchanged mom in May 2023, pausing the three successive periods of gains and a 0.7% rise in April, mainly due to the higher number of new homes put on the market. The average cost of a home in Norway stood at NOK 4,680,291 at the end of the month. Meanwhile, the region recording the largest price growth of 1.1% was Romerike. Henning Lauridsen, the managing director of Eiendom Norge, said although a more moderate development is projected for summer, house inflation has beaten everybody's estimates so far this year. He added that with the normal course of business and a seasonal downward trend in autumn, prices will likely increase by 3-4% in 2023. source: Eiendom Norge/Real Estate Norway
House Price Index MoM in Norway averaged 0.48 percent from 2003 until 2023, 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 June of 2023.
House Price Index MoM in Norway is expected to be -0.30 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 0.50 percent in 2024 and 0.40 percent in 2025, according to our econometric models.