New home sales drop

The CBS reported that in May 2006, 1,080 new privately built homes-- on an annualized rate of 13,000 new home sales - were sold, of which 970 were under construction and 110 were complete.

for sale sign 88 (photo credit:)
for sale sign 88
(photo credit: )
Sales of new, privately built homes were down 5.9 percent between February and May 2006 compared with October 2005 to January 2006, according to seasonally adjusted data from the Central Bureau of Statistics. The CBS reported that in May 2006, 1,080 new privately built homes-- on an annualized rate of 13,000 new home sales - were sold, of which 970 were under construction and 110 were complete. Trend figures show a 14% annualized drop in new home sales - a monthly average of 1.2% - in the February to May period, after an annualized 3.7% rise in the October to January period. Between January and May 2006 compared with same period last year, home sales were up by 44.8% in Tel Aviv; by 16.6% in the central district; and by 5.1% in Haifa. Home sales dropped 43% in Jerusalem, 36% in the North, 21% in the South and 29% in Judea and Samaria.