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.

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Norway House Price Index MoM



Calendar GMT Actual Previous Consensus TEForecast
2023-05-04 09:00 AM Apr 0.7% 0.6% -0.4%
2023-06-05 09:00 AM May 0% 0.7% 0.2%
2023-07-05 09:00 AM Jun 0% -0.3%


Related Last Previous Unit Reference
Housing Index 328.12 325.44 points May 2023
House Price Index YoY 0.10 0.50 percent May 2023
Average House Prices 3831473.00 3750000.00 NOK May 2023

Norway House Price Index MoM
In Norway, housing index refers to House Price Index for existing dwellings in the whole country.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.70 2.40 -2.70 2003 - 2023 percent Monthly
SA

News Stream
Norway House Prices Unchanged in May
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.
2023-06-06
Norway House Prices Edge Up in April
House prices in Norway increased to 0.7% month-over-month in April 2023, edging up from an upwardly revised 0.6% rise in the previous month, prompted by a strong development in Norwegian economy, labor market and relaxed lending regulations. Thus, the ordinary home buyers have regained the purchasing power they lost in the autumn. The average price for a home in Norway was NOK 4,594,966 at the end of April. On price development, Alesund showed the largest growth of 1.3%.
2023-05-04
Norway House Prices Up 0.5% MoM in March
House prices in Norway increased 0.5% month-on-month in March 2023, following an upwardly revised 0.4% rise in previous month, prompted by a better economic performance and easing of the lending regulations from the start of the year. The average price for a home in Norway was NOK 4,487,285 at the end of March. On price development, Kristiansand showed the largest growth of 1.7%. It took an average of 42 days to sell a home in March, down from 49 days a month earlier. Bergen had the fastest sales time with 23 days, while Tromsø had the longest sales time with 69 days. On an annual basis, house prices went down 0.2%, after a 0.3% fall in February.
2023-04-05