December 15, 2017 / 6:56 AM / 6 months ago

Norway housing prices seen down 1 pct in 2018 -Norway Real Estate

OSLO, Dec 15 (Reuters) - Norwegian housing prices will likely fall by one percent in 2018 as a downturn in the market is slowing down, a real estate industry association said on Friday.

The forecast was based on expected prices in December next year compared to December this year.

“We expect moderate price development next year, with limited growth the first couple of months and weaker as usual towards the end of the year,” the head of Real Estate Norway, Christian Dreyer, told Reuters.

In November prices were down 0.5 percent compared to November 2016. Dreyer predicted a weak December this year.

Norwegian housing prices have fallen since April after a sharp rise in recent years, triggering fears that it could hurt the economy in the long run. (Reporting by Camilla Knudsen, editing by Gwladys Fouche)

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