The Homeowners Home Price Index rose by 0.6% in April.
The Central Bureau of Statistics yesterday provided further evidence that the housing market is stabilizing. The Homeowners Home Price Index rose by 0.6% in April 2010, compared with March. The index was published together with the Consumer Price Index (CPI) for May.
The Homeowners Home Price Index is based on a random sample, and the definitive figures for April will only be published in a few months. The housing item in the CPI rose by 0.9% in May. This item is based on rental contract renewals and inventory of rental apartments, but does not account for the prices of the actual apartments.
The rise in home prices has been slowing for several months. The 0.6% rise in April followed a 2% rise in the first quarter of 2010 compared with the fourth quarter of 2009, and a 4% rise in the fourth quarter compared with the preceding quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2010
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