Reliable estimates of housing values have been a source of considerable uncertainty in studies of wealth inequality in Norway. The tax-assessed values that before 2009 formed the basis for evaluating the housing wealth of Norwegian households constitute only a fraction of the true value of the dwellings they own. By applying the hedonic method we estimate price indices in order to appraise all dwellings in Norway and replace the tax-assessed values by market values. Statistics Norway has already developed a similar framework for estimating market values for dwellings after 2009, but we extend their work in three ways. First, using a new source of transaction data we estimate the indices back to 1995, allowing us to examine the development in the distribution of wealth between 1995 and 2015. Second, we include holiday houses in the indices since holiday houses arguably constitute a significant portion of household wealth. Third, we take different approaches to the construction of the price indices in order to better predict housing values after 2009 as well. We then evaluate the inequality in the distribution of wealth by applying Gini’s nuclear family of inequality measures. We find that housing wealth inequality was rather stable throughout the period, but that a modest downwards trend emerged overall. The inequality in net wealth was also stable until 2005, but increased slightly thenceforth.