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Norway Housing Starts

Norway's housing starts fell to 1,542 units in September 2025, a four-month low. This represents a 12.4% decrease from August 2025, when starts were 1,761 units. The decline is attributed to high interest rates with Norges Bank holding the policy rate at 4.25% due to inflation concerns. High construction costs also hinder new housing starts. Norway's record low housing starts was 779 units in December 2024 and record high was 3,692 units in June 2017.

Monthly Historical Data (2015-2025)

(in units)
Month Housing Starts (units)
Sep 2025 1,542
Aug 2025 1,761
Jul 2025 1,618
Jun 2025 1,948
May 2025 1,527
Apr 2025 1,790
Mar 2025 2,543
Feb 2025 1,400
Jan 2025 1,541
Dec 2024 779
Nov 2024 1,394
Oct 2024 1,375
Sep 2024 1,920
Aug 2024 1,189
Jul 2024 2,123
Jun 2024 1,336
May 2024 1,466
Apr 2024 1,862
Mar 2024 1,429
Feb 2024 2,004
Jan 2024 2,031
Dec 2023 1,885
Nov 2023 2,248
Oct 2023 1,786
Sep 2023 1,725
Aug 2023 2,729
Jul 2023 1,778
Jun 2023 1,847
May 2023 1,749
Apr 2023 1,253
Mar 2023 1,977
Feb 2023 2,174
Jan 2023 1,818
Dec 2022 2,377
Nov 2022 2,128
Oct 2022 2,612
Sep 2022 2,524
Aug 2022 2,165
Jul 2022 2,396
Jun 2022 2,474
May 2022 2,998
Apr 2022 2,086
Mar 2022 2,930
Feb 2022 2,448
Jan 2022 2,659
Dec 2021 2,623
Nov 2021 2,097
Oct 2021 2,691
Sep 2021 2,845
Aug 2021 2,225
Jul 2021 1,621
Jun 2021 2,843
May 2021 2,344
Apr 2021 3,333
Mar 2021 2,405
Feb 2021 2,507
Jan 2021 2,480
Dec 2020 2,603
Nov 2020 2,766
Oct 2020 2,523
Sep 2020 2,340
Aug 2020 2,531
Jul 2020 2,611
Jun 2020 2,368
May 2020 2,713
Apr 2020 2,397
Mar 2020 2,488
Feb 2020 2,288
Jan 2020 2,281
Dec 2019 1,707
Nov 2019 2,434
Oct 2019 2,267
Sep 2019 2,611
Aug 2019 3,090
Jul 2019 2,935
Jun 2019 2,739
May 2019 2,827
Apr 2019 3,212
Mar 2019 2,333
Feb 2019 2,707
Jan 2019 3,025
Dec 2018 2,632
Nov 2018 2,969
Oct 2018 2,879
Sep 2018 2,443
Aug 2018 3,228
Jul 2018 2,614
Jun 2018 2,137
May 2018 2,392
Apr 2018 2,489
Mar 2018 2,312
Feb 2018 2,761
Jan 2018 2,693
Dec 2017 2,671
Nov 2017 2,469
Oct 2017 2,555
Sep 2017 2,948
Aug 2017 2,386
Jul 2017 3,288
Jun 2017 3,692
May 2017 2,653
Apr 2017 2,906
Mar 2017 3,521
Feb 2017 3,085
Jan 2017 3,098
Dec 2016 3,509
Nov 2016 3,331
Oct 2016 2,926
Sep 2016 3,074
Aug 2016 3,456
Jul 2016 2,463
Jun 2016 3,374
May 2016 3,289
Apr 2016 2,945
Mar 2016 2,625
Feb 2016 3,012
Jan 2016 2,484
Dec 2015 2,532
Nov 2015 2,587
Oct 2015 3,171
Sep 2015 2,520
Norway Housing Starts : Definition
Norway Month-over-Month dwellings started shows the percentage change in new residential construction activity compared to the previous month. Statistics Norway calculates this metric by comparing the total number of new dwellings that began construction in the current month against the total from the prior month.
Indicator Last Value Prior Value Period
Existing House Price Index 358 points 361 points Sep'25
Home Sales 11,142 units 10,102 units Sep'25