New home sales fell to 1,894 units in January 2012, 8% fewer than in December, and 2% fewer than in January 2011 the Central Bureau of Statistics reported today.
Demand for homes (new home sales plus housing starts for homes not for sale) totaled 3,375 units in January (1,894 homes sold and 1,481 homes for the homebuilders' own use) - unchanged from December, but 19% less than in the corresponding month.
Despite the government's efforts to divert home demand to the periphery, 34% of demand for new homes in January was in the Central District. Compared with December, demand for new homes rose by 31% in the Tel Aviv District and 17% in the Jerusalem District, but fell in all other districts.
New home sales in January fell in most the country, compared with December, led by a 54% drop in sales in the Haifa District, 42% drop in the Northern District, and 17% in the Tel Aviv District. However, sales in the Jerusalem District rose 89% and 3% in the Central District.
However, Association of Contractors and Builders in Israel president Nissim Bublil last week said that new home sales rose by 5% in January.
New home sales in January compared with the corresponding month were down 36% in the Tel Aviv District and 26% in the Southern District, but up 110% in the Jerusalem District.
Published by Globes [online], Israel business news - www.globes-online.com - on February 26, 2012
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