Norway’s Home Prices Unexpectedly Fall as Buyers Turn Cautious

Norway’s underlying home prices surprised with a first decline in 10 months, suggesting buyers are factoring in a lower likelihood of central bank interest-rate cuts.

Housing prices fell 0.3% month-on-month on a seasonally adjusted basis in February, the first drop since April last year, according to data published by Real Estate Norway on Wednesday. Norges Bank had expected a gain of 0.6%.