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Hemnet’s Year in Review 2022: From a hot to a more cautious housing market

9 December 2022

 | Non regulatory

A growing concern over increasing interest rates and cost of living have cooled down the housing market during 2022. The amount of listings on Hemnet have decreased marginally compared to 2021, and coupled with a decrease in the number of sales, this has resulted in a record-high housing supply. However, there are signs of a more hopeful market, as a relatively high percentage of Hemnet’s visitors believe that property prices will turn positive or stabilize in the near future.

"If we summarize 2022, we conclude an exceptional year for the housing market with clear contrasts. In the first months of the year, property prices rose and demand was high. In the spring, the Swedish Central Bank raised its interest rate forecast and prices began to decline. Since then, the market has been characterized by caution and restraint due to extensive macroeconomic uncertainty. Looking ahead, the interest rate, inflation, cost of living rises and potential government support will have a significant impact on the future developments of the housing market," said Erik Holmberg, market analyst at Hemnet.

Increased expectations for lower property prices during the year, a possible trend break in December
In January, 41 percent of homebuyers in Hemnet’s monthly Buyer Barometer survey believed prices would rise in the next six months. At the same time, only 15 percent expected declining prices. In the last survey of the year, this ratio is reversed. 64 percent of homebuyers expect prices will decrease and only 15 percent expect these to go up. This is however slightly more positive than the expectations for the penultimate survey in November,  where only 11 percent believed in higher prices.

“The dynamics of the housing market changed during 2022. After an extensive period of a seller's market during two exceptional pandemic years, buyers are now able to select from a large supply of homes for sale at more affordable prices. At the same time, sellers are often not in a hurry because they have not yet bought a new home. As the Swedish housing market is primarily driven by “buy to live”, rather than speculation (“buy to rent”), it is reasonable to believe that sooner or later the market will turn around and that buyers and sellers will agree on price expectations” said Staffan Tell, spokesperson and housing market expert at Hemnet.

Record high housing supply and longer sales times
In September 2022 there were more than 27 000 apartments listed for sale in Sweden. That was 19 percent higher than in the same month the year before, and the highest level as far back as Hemnet has data. The number of villas for sale also increased significantly during the year. In November the supply of villas was 60 percent higher than the equivalent month in the year before. The increase in supply is partly a result of more homes coming on the market and a decreased share of homes being sold. In November, the average sales time for apartments was 24 days, compared to 15 days in the same month in 2021. For villas, the average time to sell has increased from 20 days in November 2021 to 32 days in November 2022. Despite the longer durations for sale time, the Swedish housing market remains one of the most efficient in the world to transact in.

Possible turnaround for the real estate market in 2023
Although some data points indicate a persistent cooler property market, a Hemnet survey shows that a majority of consumers planning to buy or sell a home believe that the market will turn around in the coming year. Only 26 percent believe that property prices will continue to decline for another 6 to 12 months before recovering or leveling off. 19 percent believe it will take 3 to 6 months, and 8 percent believe it will take 0 to 3 months. When asked how much prices will continue to fall, 14 percent believe they will not fall further, and 29 percent believe the decline will be 1 to 5 percent.

Another recent survey on Hemnet shows that approximately four in five (86%) of respondents who have sold a home since May 2022 are satisfied with their sale. 64 percent even responded that they have sold for a profit of 10 percent or more.

Hemnet in numbers*:

203,270 total number of properties listed (-2%)

SEK 634 billion in total asking price (+4%)

54,914 villas have been put up for sale (+7%)

116,656 apartments have been put up for sale (-6%)


* Figures refer to the period January to November and include new construction. The comparison is for the same period in 2021.




For more information, please contact:

Press enquiries

Staffan Tell, Head of PR
M: +46 733 67 66 85
E: [email protected]

Erik Holmberg, Market Analyst
M: +46 725 58 80 50
E: [email protected]

IR enquiries
Nick Lundvall, IR Manager & Head of Corporate Development
M: +46 76 145 21 78
E: [email protected]


About Hemnet

Hemnet operates the leading property platform in Sweden. The company emerged as an industry initiative in 1998 and has since transformed into a "win-win" value proposition for the housing market. By offering a unique combination of relevant products, insights and inspiration, Hemnet has built lasting relationships with buyers, sellers, and agents for more than 20 years. Hemnet shares a mutual passion for homes with its stakeholders and is driven by being an independent go-to-place for people to turn to for the various housing needs that arise through life. This is mirrored in the Company’s vision to be the key to your property journey, supplying products and services to improve efficiency, transparency and mobility on the housing market. Hemnet is listed on Nasdaq Stockholm (‘HEM’).


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