Case Shiller Home Price Index Big Drop
The Case Shiller Home Price Index MoM just had its biggest drop since 2012. Hopefully, it won’t drop like it did in 2008.
Statistics Provided to Hawaii News Now
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 … Read more
Mortgage Rates Hit 6% For the First Time Since 2008. Double What It Was a Year Ago.
“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.
$30 Million in Real Estate Taxes Paid When They Should Not Have Been
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.
August Housing Stats
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 … Read more
Quotes in Hawaii Business Magazine About Prices Dropping
This article in Hawaii Business Magazine about prices dropping uses some quotes and stats I provided.
Sales Drop Almost 23% In July
We are definitely feeling the 23% drop in sales in both Single Family and Condos. It is not as easy for sellers now.
The Last Downturn Was 2008. Even COVID Did Not Crash the Market.
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.
It Is A Buyer’s Market Now
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. … Read more