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Hawaii Housing Trend: Sales Up, Prices Up, Inventory Down

Looking at the national housing trend in an online article, existing home sales are up 11% for the year and prices are up too. The last graph shows that the supply of unsold homes continues to trend down, despite the rumors of the overhang of foreclosed “shadow inventory.”

Hawaii Housing Trends Similar to the Mainland

Hawaii seems to lag behind the mainland housing trends by 3-6 months, and while our market is somewhat different because it contains a much higher percentage of second homes and investment property, we are seeing the same trends here.

We have some clients interested in certain condo complexes, for example, where nothing is currently available. Other cases where what is available is above recent comps. Things are certainly different from a year ago.

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Katie Minkus, R(BIC)

October 20, 2012

Different than a year ago is an understatement, for sure! Now is when we start saying, “oh, you want a screaming deal? Okay, first thing we do is build a time machine…” Declining inventory means rising prices – looks like someone should have rung that bell announcing the bottom of the market… last year!!

Katie Minkus, R(BIC)

October 20, 2012

Different than a year ago is an understatement, for sure! Now is when we start saying, “oh, you want a screaming deal? Okay, first thing we do is build a time machine…” Declining inventory means rising prices – looks like someone should have rung that bell announcing the bottom of the market… last year!!

Claire K. Bajo RS

October 20, 2012

Wow, this means it’s a great time to sell! If people have been wondering when a good time would be to get on the market, the time is now – limited inventory, a high demand for Hawaii real estate, and it’s getting to be winter season in the mainland- so many people would appreciate seeing sunny views of the ocean from a balcony, or a beautiful healthy garden. Great article Dan & Marion!

Claire K. Bajo RS

October 20, 2012

Wow, this means it’s a great time to sell! If people have been wondering when a good time would be to get on the market, the time is now – limited inventory, a high demand for Hawaii real estate, and it’s getting to be winter season in the mainland- so many people would appreciate seeing sunny views of the ocean from a balcony, or a beautiful healthy garden. Great article Dan & Marion!

Pam Deery

October 25, 2012

I have concerns that the low inventory will actually force some of the buyers out of their “range” of qualifying and/or comfort. Remember; the rear view mirror will make these prices look good in hind sight.

Pam Deery

October 25, 2012

I have concerns that the low inventory will actually force some of the buyers out of their “range” of qualifying and/or comfort. Remember; the rear view mirror will make these prices look good in hind sight.

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