New Home Sales Surge in Kiryat Gat Amid National Inventory Glut
Translated & summarized from N12 by baba
Israel's housing market experienced an 11.1% rise in apartment sales from June to August 2026, though a slight seasonal decline was noted. Kiryat Gat saw a dramatic 217.3% surge in new home sales, contrasting with drops in Tel Aviv and Ashdod. A large inventory of 85,680 unsold new homes persists nationally, while the second-hand market shows increasing strength, particularly in Jerusalem.
The story in 5 lines · by baba
- New home sales in Kiryat Gat surged by 217.3% in June-August 2026.
- Israel's housing market saw an 11.1% rise in total apartment sales during the period.
- A significant inventory of 85,680 unsold new homes remains nationwide.
- Tel Aviv and Ashdod experienced notable declines in new home sales.
- The second-hand housing market showed considerable strengthening in key cities.
Israel's housing market saw an 11.1% increase in apartment sales during June-August 2026 compared to the previous quarter, reaching 24,200 units. However, after adjusting for seasonality, a slight decrease of 2.9% was recorded. While new home sales rose 11.6% to 10,110 units and second-hand sales climbed 10.8% to 14,090 units, the overall market trend shows a slight decline when accounting for seasonal factors.
Despite the overall national increase, major cities like Tel Aviv and Ashdod experienced a significant drop in new home sales, falling 27.4% and 53.1% respectively. Jerusalem also saw a 25.4% decrease in new home transactions. In contrast, Kiryat Gat emerged as a standout performer, with new home sales skyrocketing by 217.3% to 1,044 units, alongside a 36.9% rise in second-hand sales.
The Northern District reported the largest regional increase in new home sales at 55.4%, with notable surges in Tira Carmel, Acre, Migdal HaEmek, and Rekhasim. The Central District also saw significant growth, particularly in Herzliya, which experienced a 253.3% jump in new home sales. The Southern District led in the total number of new home transactions nationwide.
Nationwide, a substantial inventory of 85,680 unsold new homes remained at the end of August, enough to supply the market for 26 months at the current sales pace. Over half of this inventory is concentrated in the Tel Aviv and Central districts. Meanwhile, the second-hand market showed strength, especially in Jerusalem, Beersheba, and Haifa, indicating a shift in buyer preferences or market dynamics.
While new construction sales slowed in some areas, the resale market gained momentum across several key cities. Jerusalem led second-hand sales with 898 transactions, followed by Haifa and Beersheba, suggesting a growing demand for existing properties in these urban centers.
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