New home sales fell by 14 per cent in March

In the first quarter of the year, 3,377 homes were sold, which is 3 percent below the same quarter last year, according to figures from The housing manufacturers.

Commencement of new homes in March is 61 per cent above March last year. In the first quarter, 2,526 housing units were started, which is 4 per cent more than in the first quarter of 2023.

The housing market is not healthy

– The figures for the new housing market in the first quarter of 2024 show a flattening of sales and starts at a level that is half of housing demand, says managing director Lars Jacob Hiim.

He emphasizes that the housing market is not healthy.

– It is still a demanding market, and the historically low housing construction has major consequences that affect many, says Hiim.

Expect action

He is asking for action from the politicians.

– The housing registration is now being processed in the Storting. We expect a broad gathering on powerful and rapid measures to speed up housing supply. Housing financing must be strengthened, he says.

He also believes that the lending regulations must be changed.

– The housing bank is now out of money and must be given new lending frameworks for housing quality, says Hiim.

Cabin sales increased

The total number of new homes sold in the last twelve-month period is 13,058 housing units, which is 21 per cent over the previous twelve-month period.

Sales of new holiday homes have increased. In the first quarter, 441 holiday homes were sold, which is 16 per cent more than the same period last year. In the last twelve-month period, however, sales have decreased by 24 per cent.