Hawaii Island Wide Mortgage and Real Estate Update – July 2023

We answer "How’s the Market" in this video that includes Realtors from around Hawaii Island AND a mortgage update, as well. We discuss that there continues to be a lack of Inventory, but buyers are getting a break on chasing and overbidding on homes due to the mortgage rate increase. It’s the most balanced market many of the Realtors have seen in a few years. Sellers are getting about 95% of their asking price and homes priced competitively are leaving the market quickly, and some with multiple offers.
We also learn that rates are hovering a bit under 7% and the Fed is pushing for 2% inflation and pushing rates to rise to get there.
If you would like to connect directly with any of the panelists, I can put you in touch by emailing Julie Ziemelis, at Julie@Ziemelis.com

Join our 365Ohana on www.365HawaiiLiving.com if you’d like to purchase a home on Hawaii Island or be referred to agents on other islands!

Eric Ziemelis | RS-80376
Julie Ziemelis | RS-85062
365 Hawaii Group
Keller Williams Big Island

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