A campaign of special offers successfully launched by contractors has slowed the decline in new home sales. In February 2023, 2,510 new homes were sold, down 3.9% from January, but 14.4% higher when adjusted for the few days in February, the Central Bureau of Statistics reports.
A study of general trends found that between September 2021 and December 2022 there was an average decline of 4.2% per month in new home sales, so the December-February 2022-2023 figures suggest a change in trend, possibly because marketing specials have enticed buyers. . Between December 2022 and February 2023, 7,910 new homes were sold, up 0.3% compared to September-November 2022. At the end of February 2023, there were 54,510 new homes left for sale, which would take 20.5 months to sell at the current rate.
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In the three months between December 2022 and February 2023, 23.2% of new homes sold were in the Southern District, 21.2% in the Central District, while 33% of all new homes sold were in Jerusalem, Netivot and Petah Tikva Ashkelon, Ramat Gan, and Kiryat Malachi.
885 new homes were sold in Jerusalem, 492 new homes in Netivot, 343 in Petah Tikva, 299 in Ashkelon, and 280 in Ashkelon. Only 245 new homes were sold in Tel Aviv – the eighth most 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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