According to a recent article printed in the Honolulu Star Advertiser, buyer demand for Hawaii homes broadly rebounded last year.
In particular, the report shows that true for one segment of the state’s housing market—resort residences. This is especially true, in particular, for the resort community of Princeville on Kauai which ended a four-year slide with a huge surge in 2010 compared to 2009.
Kauai and all neighbor island sales peaked from the previous year. The report by local market researcher Ricky Cassiday of Data@Work said the rebound in resort home sales was aided by improved confidence among buyers and the slow economic recovery, though the big driver appeared to be lower prices.
Cassiday said Hawaii’s resort home market this year likely will either see prices stabilize, or he’s betting more on prices rising slightly. With the Fed keeping interest rates at bay for the time being, and a large inventory of homes and condos available, this is truly a buying opportunity.