New home sales rose by an annualized 23% in November 2006-February 2007, compared with July-October 2006, the Central Bureau of Statistics reported today. Average monthly sales were 1,165 units, compared with 944 in July-October 2006. 1,270 new homes were sold in February, of which 1,070 were under construction and 170 were completed.
36% of new homes sold in January-February were in the central district and 31% in Tel Aviv.
New home sales were lower in five of Israel’s seven districts in January-February, compared with the corresponding period of 2005: Tel Aviv - 20.6% to 705 units; south - 15.2% to 252 units; Haifa - 11.7% to 189 units; central - 2.7% to 832 units; and Jerusalem - 2.6% to 151 units. Sales rose in two districts: north - 64.7% to 84 units; and Judea and Samaria -32% to 91 units.
The inventory of new home fell 5.3% in December-February to 10,740 units in February, of which 10,490 were under construction.
Published by Globes [online], Israel business news - www.globes.co.il - on March 28, 2007
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