Demand for new homes rose 14.6% in May 2010, compared with April, the first rise in three months, the Central Bureau of Statistics reported today. Demand totaled 3,091 apartments in May, while new home sales rose 35% over April to 1,900 apartments, of which 1,584 apartments were privately built.
The sales figures closely resemble the figures published yesterday in the Ministry of Finance's monthly "Red Lights" report.
The biggest jump in new home sales in May was in the Tel Aviv and Central districts. New home sales in the Tel Aviv District rose 93% to 366 apartments in May, compared with April, and sales in the Central District rose 42% to 841 apartments.
Inventory of new homes fell below 9,000 units, to 8,991 units in May, after falling by 5.4% in April. At the rate of sales in May, the current inventory is enough for just seven months nationwide, the lowest figure in many years.
Published by Globes [online], Israel business news - www.globes-online.com - on June 30, 2010
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