February housing market review by Nordea: Buyers hunting for quality
The housing market has continued to pick up since last summer, and transaction volumes in Oulu and Rovaniemi are already back to normal levels. Nevertheless, there is still a lot of supply on the market, which is keeping selling times longer than normal.
Currently, homes in better-than-average condition with a good location is selling well.
“Buyers are now seeking good quality at an attractive price. This kind of phenomenon is typical in a market that is not completely normal yet,” says Nordea economist Juho Kostiainen, who wrote the review.
The biggest factor behind the housing market’s recovery has been the decline in interest rates. “However, despite the drop in interest rates, many households are still adapting their finances, which deteriorated following the rise in interest rates and inflation.”
It is expected that the short-term reference rates will be around 2% in the summer.
Read the entire February housing market review (in Finnish)Opens new window