Bank Leumi (TASE: LUMI) says that current real estate supply levels will contribute to continued falls in real estate prices in the coming months, but that the number of sales will remain unchanged.
"The current supply of apartments will last for 12.5 months at current sales levels," Bank Leumi reported last week. "This level of supply reflects decreased pressure to raise prices," the report said.
According to Leumi, "The survey carried out by the Central Bureau of Statistics predicts that the pace of real estate sales will stabilize as prices continue to fall. The number of people who, in November, expressed interest in purchasing a home rose."
Published by Globes [online], Israel business news - www.globes-online.com - on January 1, 2012
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