House prices increased in March

House prices rose by 0.7 per cent last month. Adjusted for seasonal variations, prices rose by 0.3 per cent.

House prices are now 3.2 per cent higher than one year ago, according to figures presented by Real Estate Norway on Wednesday.

– The moderate development in house prices we have seen in the past year continues in March, says Director Christian Vammervold Dreyer in Real Estate Norway.

– The housing market is in good balance, and there have been many sales in the housing market in much of the country in the first quarter. The high activity in March can to some extent be attributed to the late Easter this year, he continues.

In March, 7,824 homes were sold in Norway, which is 18 per cent more than in the same month last year.

– Many used homes have been sold during the month, and accumulated for the first quarter of 2019, the level is now just below 2015, which was a year with very many sales in the Norwegian housing market, says Dreyer.

In March, 10,120 homes were sold for sale in Norway, 30.9 per cent more than in the same month in 2018.

– The growth in the number of used homes for sale is large compared to March last year, but this is due to the fact that Easter as a whole is in April. Normally, Easter is a watershed in the housing market, as many people want to sell their homes as spring spring out. It is likely that this seasonal pattern will change somewhat this year due to late Easter, and that many homeowners have chosen to put the property out for sale as early as March. There have never been so many homes for sale in the first three months of the year as this year. It is especially in Oslo that considerably more homes have been sold for sale, says Dreyer.

It took an average of 52 days to sell a home in March 2019, which is three days more than in March 2018. The fastest sales time was Oslo with 24 days, and the slowest sales time had Kristiansand with 82 days.

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