September did not bring any major price movements on the housing market, according to the latest figures from Svensk Mäklarstatistik.
Per-Arne Sandegren, analysis manager at the organization, describes the picture as mixed.
I would call it a fairly normal housing market compared to the turbulence of recent years, he says.
He is referring to the pandemic years with large price increases and then the war in Ukraine, which led to large price drops. Last year, the market was sluggish, according to Sandegren, with few sold objects.
Interest rates affect
At the same time, the statistics show that the number of completed transactions continued to increase in September. So far this year, 121,900 homes have been sold, compared to 109,600 during the same period last year.
We hear that the supply is still large, which is good for buyers, but we note that the turnover rate is increasing and that it is also one of the signs that the market is becoming more normal, says Sandegren.
According to him, this goes hand in hand with lower interest rates and the fact that inflation has decreased dramatically since last year.
The largest price increase in September was for condominiums in Greater Stockholm, with a plus of 1.3 percent. In the country as a whole, condominium prices rose by 0.8 percent.
Villa prices in the country fell by 0.4 percent. In Greater Stockholm, villa prices fell by 0.2 percent, in Greater Gothenburg they rose by 0.9 percent, and in Greater Malmö they fell by 0.4 percent.
On an annual basis, condominium prices have increased by 2.6 percent, while villa prices have increased by 3.9 percent.
September sets the tone
What can we expect during the fall?
We should not expect any dramatic price rallies, but rather a market that will tick upwards a bit. There will be some months with a little minus and others with a plus, but overall a much more stable market ahead, says Per-Arne Sandegren.
Oskar Öholm, CEO of Mäklarsamfundet, says in a comment that the "wait-and-see" attitude is over on the housing market.
"September figures usually set the tone for the last quarter of the year, and likely 2024 will be the year when the market normalizes after some turbulent years".
