After slumping in March and April, the number of deals returned to 'routine' levels, the Central Bureau of Statistics reports.
After slumping to less than half of its usual levels during the lockdown in March and April, housing deals in Israel in May and June returned to levels comparable with the corresponding months in 2019, the Central Bureau of Statistics had reported.
Home sales in Israel began briskly on the housing market in January and February with 10% more deals reported that in January and February 2019. Then came the lockdown with the worst week being the last week in March when only 900 housing deals were completed compared with 2,200 in the corresponding week of 2019. In the week of Passover 200 housing deals were completed compared with 450 in the week of Passover 2019.
The figures for May and June have yet to be finalized due to delays in the transfer of data to the Israel Tax Authority. However, an initial Central Bureau of Statistics estimate indicates that there were about 1,500 housing deals per week from the second week of May onwards and 2,000 deals per week in the second and third weeks of June. The Central Bureau of Statistics describes these numbers as 'back to routine.'
Published by Globes, Israel business news - en.globes.co.il - on July 13, 2020
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