Hillside homes of Yemin Moshe 311.
(photo credit: Lyle Plocher )
Contractors’ discounts appear to have drawn Israelis back to the real-estate
New-home sales in November 2011 were up 44 percent from those in
October, although they were down 28% compared with November 2010, according to
the Central Bureau of Statistics.
Sukkot was in October this year,
reducing the number of business days during the month. The 1,420 new homes sold
in November were 7% above the number sold in September, before Rosh
New-home sales in Jerusalem more than doubled to 244 in November
from 97 in October.
The increase in sales in the South was about the
New-home sales rose 40% in the Central District to 640 apartments
Housing demand, which includes homes sold and homes not for
sale (build-yourown- home projects, buyers groups, etc.), was 4% higher in
November than in October.
“The figures confirm contractors’ reports that
home buyers are coming off the fence.” Association of Contractors and Builders
in Israel president Nissim Bublil said, adding, “The need for homes exists, and
demand cannot be halted by artificial means, especially when home prices are
Despite the increase in sales, the inventory of new homes
continued to grow, reaching 19,292 at the end of November, up from 19,000 at the
end of October and 29% more than in the corresponding month of last year, the
statistics bureau reported Wednesday.
Forty-two percent of the housing
inventory is in the Central District, 20% is in the South, 13% is in the Tel
Aviv area, 11% is in the Jerusalem area, 7% is in the Haifa area and 5% is in