Norwegian Home Prices Large Regional Differences

Norwegian home price growth eased to 0.1% m/m (SA) in May 2026, missing central bank forecasts. The market is split between a cooling Oslo market, impacted by regulatory changes and secondary home sales, and rising prices in supply-constrained coastal cities like Stavanger and Bergen.

Key Takeaways

• 1.Norwegian home price growth slowed to a modest 0.1% m/m (SA) in May 2026, falling short of Norges Bank's expectations.
• 2.Significant regional divergence is occurring; Oslo's prices fell 0.3% m/m due to a sell-off of secondary homes, while cities like Bergen and Stavanger saw sharp rises due to supply constraints.
• 3.A new regulatory framework introduced in 2026 has reduced the attractiveness of secondary housing investment, impacting Oslo more than other regions.

Table of Contents

• Large regional differences
• Details
• Implications Norges Bank
• Existing home prices
• Annual increases in existing home prices
• Demand-supply balance
• Existing home prices in large cities