Error in the Norwegian Housing Price Statistics for April
This meant that the transaction volume and the number of homes put on the market were underreported.
A significant number of more homes were sold and put on the market in April than Eiendom Norge reported on the 5th of May 2021.
For the price development, this error is less significant, and the trend in the market is the same as was reported.
The error is most significant for Trondheim and Tromsø, which had a stronger price development than what was reported.
Real Estate Norway reported unchanged prices nominally in Trondheim in April. In reality, prices here rose by 0.5 percent. Seasonally adjusted, this means that Trondheim also rose 0.1 per cent instead of the seasonally adjusted decline of 0.4 per cent that was reported.
In Tromsø, Real Estate Norway reported a decrease of 0.2 percent. In reality, prices rose by 0.1 per cent. Seasonally adjusted, a fall of 0.5 per cent was reported. Instead, prices fell seasonally adjusted by 0.1 per cent.
In other areas and nationally, there are only minor changes in the calculation of the price development on the decimal.
The Nowegian housing price statistics for April have therefore been produced again and are now published in a revised edition on Eiendomnorge.no.
Eiendom Norge and our statistics producer Eiendomsverdi AS apologize for the error.
In summary, the housing market nationally looks like this after the error correction:
- Nominal inflation will be 0.3 per cent instead of 0.2 per cent
- The seasonally adjusted prices are unchanged instead of -0.1 per cent
- The 12-month growth will be 12.3 percent instead of 12.2 percent
- The number of homes sold increases from 8,761 to 9,489
- The number of homes put up for sale increases from 9,846 to 11,027