Positive sales development and strong cash flow
JM reports a second quarter with significantly increased sales contributing to strong cash flow. The housing market in Sweden continued to improve, and sales to consumers increased by 65 percent compared to the previous year. The Swedish market is showing increasingly clearer signs of recovery, and it is now evident that consumers’ disposable income, combined with reduced amortization requirements is beginning to have an impact. Average prices increased in the Swedish submarkets in the second quarter, and an increasing number of contracts are being signed at early stages. We are thus starting to approach a more normalized level of “on drawing” sales, although the development continues to vary between different cities and micro-locations.
In Norway, the housing market was cautious with significant local variations. The Finnish market continued to be characterized by weak demand and declining prices, but there are early signs of recovery in line with strengthened consumer confidence.