Housing prices continue to fall: "Biggest loss in ten years"

It is clear that the housing market has been in a period of decline for some months now.

That is according to Per-Arne Sandegren, who has been involved in producing the statistics.

Seen from the peak in March, the loss is the biggest since 2017.

- This is the biggest monthly price drop in ten years, but since fewer homes are always sold in July, prices can vary more then, says Marcus Svanberg, CEO of Länsförsäkringar Fastighetsförmedling.

Eight percent cheaper

Four percent - that's how much the prices for a condominium have dropped in Sweden during July, according to figures from Swedish Mäklarstatistik.

Seen over three months, the price drop is eight percent.

The loss is greater in the big cities compared to the national average.

In Greater Stockholm, a condominium has become five percent cheaper on average in one month.

In Greater Gothenburg, the figure is four percent.

Although summer is normally a weak month on the housing market, the Stockholm area still stands out, according to Sandegren.

- There, a condominium has become ten percent cheaper in three months.

Summer is normally pale, but not this much.

These are unusually large numbers, he says.

Less for the villas

At the same time, the case has not been as noticeable for villas as for condominiums.

In one month, the average price in the country has decreased by one percent, while that figure is two percent for the three largest cities.

According to Erik Wikander, CEO of Svensk Fastighetsförmedling, the decline is not unexpected.

He sees it as a price correction and recalls that even with a drop of 15 percent, prices would still be higher than before the pandemic years.

"The pre-pandemic level should be the reference point for what is a relevant price level going forward," he writes in an email.

Sell ​​first

According to Wikander, "now more than ever" it is more important to sell first and buy later.

Otherwise, the risk is that you end up at a stressful disadvantage, he continues, as it has increasingly become a buyer's market.

It is also noticeable by the fact that more people are prepared to sell for a different price level than they first expected.

"More and more of our brokers testify that it is starting to get easier to get deals done during the summer as more and more sellers understand that it is a different market," he writes.