15% fall in new home sales

New apartments

Jerusalem led in sales, followed by Kiryat Ono and Tel Aviv between March-June 2019, the Central Bureau of Statistics reports.

The Central Bureau of Statistics today published figures for sales of new homes in March-June 2019. Sales of 5,300 new homes to the general public were reported, 14.9% less than in the three preceding months.

The Central Bureau of Statistics stated in its report, "An examination of trend figures shows that the number of new homes sold has declined since December 2018 by an average of 2.8% a month, following an average monthly rise of 1.9%, from 1,670 to 2,030, in February-November 2018."

If you recollect seeing other figures that clash with these, you have not made a mistake. Only last week, the Ministry of Finance chief economist reported figures for the number of deals showing that 3,200 new homes were sold in Israel in May alone. One reason for the difference is the use of different measuring systems and the information reported by the two sources. For example, the Ministry of Finance's figures include both new homes sold on the free market and Buyer Fixed Price Plan homes, while the Central Bureau of Statistics' data refer to homes sold, not to new homes that are not for sale (defined as for the owner of the rights' own use, for buyers' groups, homes for rent, etc.). On the other hand, when both of them publish different headlines about the number of new homes sold, it is liable to confuse the public.

Jerusalem led in sales of new homes with 345, followed by Kiryat Ono (297), Tel Aviv (295), Rishon Lezion (266), and Netivot (220). Cities where sales declined steeply in the period were Herzliya, Petah Tikvah, Ramat Gan, and Netivot.

Published by Globes, Israel business news - en.globes.co.il - on July 14, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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