New-home sales up 17% in April

New-home sales rose 17 percent in April, compared with March, snapping a three-month slump, Central Bureau of Statistics reported.

May 29, 2012 22:12
1 minute read.
Hillside homes of Yemin Moshe

Hillside homes of Yemin Moshe 311. (photo credit: Lyle Plocher )


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New-home sales rose 17 percent in April, compared with March, snapping a three-month slump, the Central Bureau of Statistics reported Tuesday. New-home sales rose to 1,868 homes in April from 1,438 in March, despite the Passover holiday.

New-home sales were unchanged compared with April 2011.

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The largest increase in new-home sales in April was in the Tel Aviv area, where they doubled from March to 291 homes. New-home sales rose 77% in the Jerusalem area, 17% in the North and 11% in the South. New-home sales were unchanged at 660 in the central region and fell 20% in the Haifa area.

Seventy-four percent of new-home sales in the January- April period were in the central region. New-home sales in the Tel Aviv area were down 29% in January- April compared with the corresponding months of 2011, fell 16% in the Haifa area and rose 42% in the Jerusalem area.

Demand for new homes rose 15% in April, compared with March, to 3,014 homes, but was down 6% compared with April last year.

The housing inventory rose 35% in April to 20,653 homes; 45% of the inventory is in the central region, and 4% is in the North. The housing inventory is sufficient for 13 months at the average rate of sales over the preceding three months.

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