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      Free Daily Israel Report
      Archive: 6/13/2011
      19:29
      Reported

      News Brief

        6/13/2011, Sivan 11, 5771

      Home Sales Drop in April


      The Treasury announced Monday that sales of homes dropped 31% in April compared to March, and were 10% lower than in March a year earlier. The fall applied sales of new homes, which were down 35%, as well as of second-hand homes, down 29%.

      Also continuing a downward trend were purchases of investment properties, which were off a quarter on average in the first quarter of 2011 as compared to the last quarter of 2010. In Tel Aviv, the drop in investment property purchases was 42%.