Housing demand continues to soar
The housing inventory fell to 6.1 months of supply nationwide in October.
New home sales rose 41.9% to 2,250 in October from 1,588 in September. However, new homes built for the owners' own use, or by buyers groups, or for rent, fell 18% to 1,160.
The housing inventory continued to fall, reaching 6.1 months of supply nationwide in October, based on the month's rate of sales. 9,687 homes were available for sale nationwide at the end of October, down 5.5% from the inventory of 10,246 homes a month earlier. The breakdown of inventory by district showed a drop in all districts, with the exception of a 10% increase in the Central District and a 1% increase in the Jerusalem District.
Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
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