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%.