Nationally, apartment prices decreased by 0.6 percent, while villa prices fell slightly, minus 0.2 percent.
The decline occurs simultaneously with a large supply, for example, 11 percent more homes were sold than during the corresponding period in 2023.
This is a factor that also affects prices, says Fredrik Kullman, CEO of Bjurfors Sweden:
"Usually, August is a month characterized by rising prices, but now we see that the market hasn't really taken off. The reason is, of course, the large supply", he says in a press release.
Pulled back
According to Fredrik Kullman, many sales were pulled back in the spring due to the high interest rate level, which are now coming out for sale instead.
Following the latest interest rate cut, the Swedish Central Bank is expected to strike again with another cut in a couple of weeks when it's time for the next interest rate decision, which would mean a repo rate of 3.25 percent if it's a 25-point cut.
When it comes to price development during the autumn, there are differing opinions among market players:
"We expect the price picture to remain relatively stable, given the large supply and the real economic situation", says Erik Wikander, vice CEO of Svensk Fastighetsförmedling in a press release.
Price increase of a few percent
His industry colleague, Marcus Svanberg, CEO of Länsförsäkringar Fastighetsförmedling, believes instead in a price increase of a few percent during the autumn and continued growth:
"At the same time, there are uncertainty factors such as the geopolitical unrest, interest rate development in the euro area and the USA, as well as the record-large supply of homes", he says.
