The blitz of special offers launched by contractors has successfully slowed the decline in the sale of new homes. In February 2023, 2,510 new homes were sold, down 3.9% from January but 14.4% higher when adjusted because of the fewer days in February, the Central Bureau of Statistics reports.
Examining overall trends finds that between September 2021 and December 2022 there was an average 4.2% fall per month in new home sales, so that the December-February 2022-2023 figures suggest a change of direction, possibly because special marketing offers have tempted buyers. Between December 2022 and February 2023, 7910 new homes were sold, up 0.3% compared with September-November 2022. At the end of February 2023, 54,510 new homes remained for sale, which would take 20.5 months to sell at the current rate.
In the three months between December 2022 and February 2023, 23.2% of the new homes sold were in the southern district, and 21.2% were in the central district, while 33% of all new homes sold were in Jerusalem, Netivot, Petah Tikva, Ashkelon, Ramat Gan and Kiryat Malakhi.
885 new homes were sold in Jerusalem, 492 new homes were sold in Netivot, 343 in Petah Tikva, 299 in Ashkelon, and 280 in Ashkelon. Only 245 new homes were sold in Tel Aviv - the eighth largest number of any city between December 2022 and February 2023.
Published by Globes, Israel business news - en.globes.co.il - on April 20, 2023.
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