Demand for new homes is continuing. The Central Bureau of Statistics reports a 20.5% increase in the number of new homes sold in July 2013, compared with June. The largest increase in new home sales in July was in Jerusalem and the Central District.
At the same time, the housing inventory continued to decline, reaching 20,500 homes in July, the lowest figure since October 2011.
The Central Bureau of Statistics also reported that new home sales in July were 12% higher than in July 2012, indicating inflexible demand for new homes.
A breakdown of homes sales by district found a sharp rise in sales in the Central District from 650 new homes in June to 960 new homes in July. New home sales in in the Central District in July were also higher compared with July 2012, when 740 new homes were sold.
250 new homes were sold in the Jerusalem District in July, up from 163 new homes sold in June, and 173 new homes sold in July 2012. It is possible that the Jerusalem grant, which the government has extended, and which offers a NIS 100,000 grant to a buyer of a new home in the city from a contractor, is the reason for the jump in home sales in the capital.
Published by Globes [online], Israel business news - www.globes-online.com - on August 26, 2013
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