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.