Norwegian housing prices fall slightly in January

Housing prices in Norway dropped slightly in the month of January on a seasonally adjusted basis. On an unadjusted basis, housing prices rose 2 percent in the month. But January is usually a solid month, and seasonally adjusted prices dropped 0.4 percent. This signifies that it is slightly too early to say that the downward trend in housing prices is over, noted Nordea Bank in a research report.

Still, there is slight uncertainty regarding how much weight one should give to the seasonal factors. There might be a few issues with the seasonal factors. Therefore, there is possibility that prices would level out soon, said Nordea Bank. The economy is rebounding, and rates are low. Prices in Oslo rose 2.7 percent, which is +1 percent seasonally adjusted. This bolsters the view that the downturn in the housing market is soon over.

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