Israeli Apartment Sales Stabilize in September Despite Holiday Slump
Translated & summarized from TheMarker by baba
Israeli apartment sales fell 23% in September due to holidays, but rose 6% when adjusted for seasonal factors. Year-over-year sales were down 15%. Haifa saw a 17% sales jump, while Tel Aviv contractors hold over 10,000 unsold units.
The story in 5 lines · by baba
- Israeli apartment sales dropped 23% in September due to holidays.
- Adjusted for holidays, September apartment sales rose 6%.
- Year-over-year apartment sales decreased by 15% in September.
- Haifa contractor apartment sales increased by 17% in September.
- Tel Aviv contractors possess more than 10,000 unsold apartments.
Apartment sales in Israel saw a 23% drop in September compared to the previous month, reaching 6,146 units, the lowest since April. This decline is attributed to the Rosh Hashanah and Sukkot holidays. However, when adjusting for the holiday season's impact, sales actually increased by 6% compared to the previous month. Year-over-year, sales were down 15% in September. In contrast to the national trend, apartment sales by contractors in Haifa surged by 17% in September. Meanwhile, contractors in Tel Aviv are holding over 10,000 unsold apartments.
