Israelis took NIS 11.6 billion in mortgages in July; U.S. new-home sales fell to 607,000
By Patrick Lancier
Israeli households took NIS 11.563 billion in new mortgages in July, according to the Bank of Israel as reported by Globes on 25 August. The average loan was NIS 1.117 million, close to the March peak of NIS 1.129 million. In the United States, the Census Bureau and HUD put July new single-family sales at 607,000 at a seasonally adjusted annual rate, 10.5 percent below June. A wartime central bank still books housing credit. That is not a country disappearing.
Israel still writes the loans
Globes, citing the Bank of Israel, puts July originations at NIS 11.563 billion. The average mortgage rose to NIS 1.117 million after a dip from March’s NIS 1.129 million. Ynet, on 12 August, prints the same 11.563 billion and about 8 percent more than July a year earlier. From January to July, Israelis took about NIS 68.7 billion, roughly 13 percent more than a year earlier, Ynet reports, citing the Israel Mortgage Advisors Association on the year-to-date comparison.
Luxury still takes a large slice. In July, NIS 1.67 billion, about 14.5 percent of the total, went to properties worth NIS 5 million or more. Forty-three percent of new mortgages were on properties worth NIS 3 million or more. Contractor “bullet” and “balloon” loans totaled NIS 1.609 billion, 14 percent of the month, slightly below June’s 14.7 percent. The housing market can be slow and the credit tape can still run. Both can be true in the same month.
July is not a new rush to buy
The advisors’ association told Ynet the July print is not a fresh demand wave. Much of it, they say, is 2023 and 2024 contractor deals reaching the payment stage now. The big numbers tell yesterday’s contracts as much as today’s buyers. That does not cancel the Bank of Israel figure. It explains the lag. Hamas, Hezbollah and Iran opened fire. The IDF answers. The statistics calendar still closes on time.
The Central Bureau of Statistics has not yet published a June–July home-price index. The last two-month print remains May–June. The quarterly average of NIS 2.435 million in the second quarter still stands. Tel Aviv and Beersheba are not the July mortgage tape. They are a different series.
U.S. new homes: 607,000, median $393,800
Census and HUD, in release CB26-128 on 25 August, estimate July new single-family sales at 607,000 at a seasonally adjusted annual rate. That is 10.5 percent (±14.0 percent) below a revised 678,000 in June, and 6.3 percent (±19.6 percent) below 648,000 in July 2025. The bureau marks both drops as not statistically significant. Use the number. Do not call it a collapse.
The median price was $393,800. The average was $508,800. Inventory at the end of July was 488,000 houses, 1.9 percent above June, a 9.6-month supply at the current sales rate, up from 8.5 months. Realtor.com calls the median the lowest since July 2021. The Census page itself does not print that comparison. Freddie Mac’s 30-year remaining at 6.66 percent as of 27 August is last week’s rate, not a new print.
FAQ
Is NIS 11.563 billion a new Israeli buying boom?
It is the Bank of Israel’s July origination total, via Globes and Ynet. Advisors say much of it is 2023–2024 contractor deals reaching payment, not a new demand wave.
What is the NIS 1.117 million figure?
The average new mortgage in July 2026, close to March’s NIS 1.129 million peak. Globes, 25 August, citing the Bank of Israel.
Did Americans stop buying new houses?
No. Census put July sales at 607,000 SAAR, 10.5 percent below June. The bureau says the drop is not statistically significant.
Is $393,800 the U.S. existing-home median?
No. It is the median price of new houses sold in July. Existing-home sales are a different NAR series.
Sources
- Globes, 25 August 2026, citing Bank of Israel — NIS 11.563 billion in July; average loan NIS 1.117 million; luxury and contractor-loan shares
- Ynet, 12 August 2026, citing Bank of Israel — same 11.563 billion; Jan–July NIS 68.7 billion; advisors on 2023–2024 contractor lag
- U.S. Census Bureau / HUD, CB26-128, 25 August 2026 — July new-home sales 607,000 SAAR (−10.5%); median $393,800; inventory 488,000 / 9.6 months
- Freddie Mac PMMS as of 27 August 2026 — 30-year 6.66% (not a new week)
By Patrick Lancier
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