Hawaii Market Update – Big Island Property Inventory Down, Prices Up
We live on a rock in the middle of the Pacific Ocean and sometimes forget that we are so in tune with the mainland economy. But looking at this graph (below) is a reminder that the low inventory we are seeing here on the Big Island is a reflection of the country as a whole. According to this graph, the inventory of homes is getting near record low levels.
U.S. unsold homes supply
Low Real Estate Inventory Levels on the Big Island
We’re seeing the same low inventory levels on the Big Island and the demand has boosted prices from the low levels of a year ago. Even thought prices have come off their lowest levels, they are still way down from the height of the market 6 years ago. That, along with historically low interest rates, still means a great opportunity for buyers of Big Island property.