New Home Sales Surge in Kiryat Gat Amid National Inventory Glut
Translated & summarized from Mako by baba
Israel's housing market experienced an 11.1% rise in overall transactions from June to August 2026, with new home sales up 11.6% and second-hand sales up 10.8%. Kiryat Gat saw a dramatic 217.3% increase in new home sales, while Tel Aviv and Ashdod reported declines. A national inventory of 85,680 unsold new homes persists, with over half concentrated in the Tel Aviv and Central districts.
The story in 5 lines · by baba
- New home sales in Kiryat Gat surged by 217.3% in June-August 2026.
- Israel recorded 24,200 housing transactions in June-August 2026, an 11.1% quarterly increase.
- A national inventory of 85,680 unsold new homes remains, sufficient for 26 months.
- Tel Aviv and Ashdod saw significant declines in new home sales.
- The second-hand housing market strengthened, particularly in Jerusalem and Beersheba.
Israel's housing market saw an 11.1% increase in transactions during June-August 2026 compared to the previous quarter, totaling 24,200 units sold. However, after seasonal adjustments, a slight decrease was recorded. New home sales rose by 11.6% to 10,110 units, while second-hand sales grew 10.8% to 14,090 units. Notably, 35.8% of new homes were sold with government subsidies.
Despite the overall rise, sales in Tel Aviv and Ashdod declined significantly. Kiryat Gat emerged as a standout, reporting a remarkable 217.3% surge in new home sales with 1,044 transactions, alongside a 36.9% increase in second-hand sales. The Northern District experienced the largest regional jump in new home sales at 55.4%, with significant increases also seen in the Central District, particularly in Herzliya.
Nationwide, the inventory of unsold new homes stood at 85,680 units at the end of August, enough to last 26 months at the current sales pace. Over half of this inventory is concentrated in the Tel Aviv and Central districts. Jerusalem, Tel Aviv, and Lod hold the largest quantities of unsold new homes.
Conversely, the second-hand market showed strength, especially in Jerusalem and Beersheba. Jerusalem led with 898 second-hand sales, followed by Haifa and Beersheba. Tel Aviv also saw a 20% rise in second-hand transactions.
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