Home purchases rose by a further 8% in June 2010, a fraction of the 35% increase in purchases in May.
Home purchases rose by a further 8% in June 2010, a fraction of the 35% increase in purchases in May, according to the Ministry of Finance's Red Lights macroeconomic survey. Home purchases in June were 6% fewer than in June 2009. New home purchases were over 20% less in June than in June 2009.
The median price of new homes fell by a further 0.9% in June, continuing the trend that began in January. The median price fell in all regions, except for Haifa and Rehovot, with the sharpest drop in the Beersheva region.
The salary level of homebuyers were lower in June than in May, except in the Galilee, Conversely, buyers of apartments for investment were characterized by a significantly higher salary level in compared with previous months. The Ministry of Finance said that these findings are a hint of the tighter terms by mortgage banks for persons perceived to carry higher credit risk.
Published by Globes [online], Israel business news - www.globes-online.com - on July 27, 2010
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