Housing Prices Drop in Real Terms in Israel for First Time in Year and a Half

But the real estate industry does not believe the drop reflects a trend, because the demand for housing still outstrips supply.

The real estate industry does not believe that housing prices are dropping, despite the slight decline recorded in the second quarter of 2013. The Government Assessors Office reported on Sunday that housing prices dropped 0.3% in the second quarter, the first decline in real terms in a year-and-a-half.