Hawaii Real Estate Market Rebounding?
Real Estate Gurus, Investors, Home Owners, Local and International Home Buyers are all asking the same question – Is the Hawaii Real Estate Market on the Rebound? Following the newly released August real estate statistics from Honolulu Board of REALTORS®, many local agents are beginning to subscribe to this wisdom.
Using the data supplied by Honolulu Board of REALTORS®, we can see a clearly defined positive turning point for the market. Year to date, 1,972 single family homes have closed. In 2009, 356 fewer homes were closed at this time. And in 2008, 51 fewer homes were closed compared to 2010. Looking at the historical trending data, the growth in closed home sales is clearly on the incline and already surpassing the market from two years ago.
Pending sales are also up from 2008, where 1,946 homes were in escrow in August. In 2010, 2,223 home sales are currently pending. With consumer interest returning to the Hawaii real estate market, home prices will begin to recover. As such, now continues to be the best time to invest.
Despite economic and political uncertainty, it’s evident that potential home buyers are savvy to an impending economic recovery. Taking advantage of reduced listing prices for luxury Hawaii homes and condominiums, buyers are getting in now to reap the financial benefits of the apparent market recovery. Real estate has always been a strong indicator of economic stability. With many markets around the country reporting improving conditions and promising potential, take the time to consider your investment interests.
For more information about Luxury Hawaii Real Estate investment opportunities, contact:
Sachi Braden (R), GRI
President • Principal Broker
Sachi Hawaii – Pacific Century Properties
(808) 596 – 8801
info@sachihawaii.com
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