Hawaii News Now asked me to get some custom statistics for their 10 pm top story about the latest Fed rate hike. I was able to pull together some interesting stats that show a huge drop in the sold over asking by month and a huge increase by month in sellers dropping their price. I …
“The 30-year fixed mortgage rate hit the six percent mark for the first time since 2008 – rising to 6.01 percent – which is essentially double what it was a year ago,” MBA Associate Vice President of Economic and Industry Forecasting Joel Kan said in a news release.
Wow, $30 million that did not have to be paid in Real Estate taxes. If you don’t have the home exemption, file it before 9/30.
More than 300 single-family homes and more than 500 condos sold in August, which is near pre-pandemic annual average closed sales per month for single-family homes and above average for condos. Median sales prices remained on pace with recent months, with August’s single-family home median sales price rising 7.2% year-over-year to $1,125,500 and the condo …
This article in Hawaii Business Magazine about prices dropping uses some quotes and stats I provided.
The share of homes listed for 30 days or longer increased 12.5 percent in July compared to a year earlier, with 61.2 percent of homes now sitting on the market for a month or longer, according to a report released Tuesday by Redfin. The annual increase in stale listings is the biggest since April 2020, …
We are definitely feeling the 23% drop in sales in both Single Family and Condos. It is not as easy for sellers now.
This is an interesting chart that shows even the COVID downturn was not too bad, and right after that, the market increased dramatically. You can see we have not had any serious downturns since the 2008 crash.
The days of bidding on homes with 20 other buyers are coming to an end. Redfin said under 50% of their offers now have no competing offers, the lowest rate in 2 years. They also stated that homes that would have had 20 showings two months ago are now getting one or even no showings. …
