As a business person in the real estate market, I am diligent in keeping up with the market trends. I subscribe to many papers, magazines and comb the internet. One of our local business papers, Pacific Business News, regularly reports of home sales across the state. Not to my surprise last weekâ€™s article stated that home sales rose across the board in April, but the prices were mixed by Hawaii Counties. The Big Island number of sales for single family homes increased by 78% with condominium sales not too far behind at an increase of 72%.
As a Realtor, this is music to my ears. Can we hope this will be a sign of things to come? There may have been some extenuating circumstances that helped to raise the sales, that being the end of the first time buyer credit and the low interest rates. The first time buyer credit is now gone, but hopefully the interest rates will stay low to help motivate those buyers who are on the fence as to whether to jump in.
The market is getting stimulated, whether the prices go up or down, it doesnâ€™t matter, what matters is buyers are buying. This is great news for buyers and sellers. Lets go sellers and buyers, keep up the good work.