Norwegian housing prices rise in February

Housing prices in Norway rose in the month of February, coming in line with the views that the housing downturn in Norway is soon over. Housing prices rose 0.4 percent sequentially in the month. Last month prices fell 0.4 percent sequentially. One should be careful by making too much out of one figure, but the figure released today is consistent with the view that the downturn in the housing market is soon over, noted Nordea Bank in a research report.

The projection of Norges Bank is in line with a few more months with a marginal drop before prices level out. On the margin the figure is on the solid side to Norges Bank. No major effect on the rate path, but if anything it argues for an upward revision to the path, added Nordea Bank.

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