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OSLO, June 6 Norwegian seasonally adjusted
housing prices fell by 0.7 percent in May from April in a
further sign the market was cooling off from a rapid rise in
recent years, a real estate industry association said on
On a year-on-year basis, prices rose by 8.3 percent in May,
down from 10.7 percent in April and from a decade-high 13
percent in February, Real Estate Norway said.
The year-on-year growth rate will likely continue to decline
in both June and July as more housing units are made available
for sale and weary buyers resist the ever-higher cost of homes,
the lobby group added.
The Norwegian government has also tightened regulations of
mortgages in a bid to rein in the housing market, forcing banks
to become more selective.
Unadjusted prices fell by 1.1 percent in May from April, the
weakest nominal outcome for a single month since October of
The housing data was compiled by Real Estate Norway, FINN
(Reporting by Camilla Knudsen, editing by Terje Solsvik)