Danske Bank’s Housing Price Indicator* for April shows falling prices for the third consecutive month. In seasonally adjusted terms, the Housing Price Indicator fell by 0.9 percent from March to April, an acceleration compared with previous months. The number of transactions also declined — both month-on-month and compared with April last year.
Housing price developments have been weaker than forecast, and the persistent declines suggest that the housing price outlook will likely be revised downward. It is unlikely that housing prices will rise by about 5 percent this year as previously expected.
Uncertainty about the overall economic outlook and the housing market in particular is unusually high. Consumer confidence among households fell sharply in April, and there are few signs that sentiment will recover quickly in May. Households are being weighed down both by smaller-than-expected interest rate reductions and by stock market turbulence and broad uncertainty.
Comment from Susanne Spector, Chief Economist, Danske Bank Sweden:
“The housing price decline accelerated during April, confirming that the housing market lost momentum in 2025, and that households have become more cautious. Uncertainty is exceptionally high and there are few factors pointing to a turnaround in housing prices in the coming months. The risk of further setbacks is significant.”
*The Danske Bank Housing Price Indicator measures price movements for condominiums within Stockholm municipality and is updated at the end of each month based on published final sale prices from the housing site Hemnet.
Danske Bank’s Housing Price Indicator is used as an early indicator for housing prices during the current month. Because housing price trends in Sweden broadly follow developments in Stockholm, it serves as a useful gauge of nationwide housing price movements.