Across Hawaii Island, days on market are above 70 and sellers are taking price cuts on their listings. Mortgage rates are now at 7% and not expected to come down much this year.
IN this video:
1. Travis Green gave the mortgage update and it wasn’t something to dance around a room about, but the rates are keeping inflation down and housing sales to a crawl.
2. The Kohala coast investment condos are still soft, but moving which means investors are coming back into the market after an almost dead stop in March.
3. East Hawali homes under 700k are still moving, but the price range above that are sitting on the market, as the cut off for most working people who need a mortgage in Hilo.
4. Inventory is stacking up around the country and if people can’t sell their homes on the mainland, they can not reinvest here.
5. We all are seeing softening, but not crashing as sellers hang tight to their prices, with negotiations of 5% list to sell.
If you’re thinking about buying, selling, or investing on Hawaii Island, this market update is packed with insights you won’t want to miss!
Contact Julie at Julie@Ziemelis.com
Check out what is on the market at www.365HawaiiRE.com
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Julie Ziemelis
Julie@Ziemelis.com
Eric Ziemelis | RS-80376
808-333-1004
365 Hawaii Group
ΓEA⅃ Broker LLC
www.365Hawaiire.com
www.youtube.com/365hawaii
00:00 – Intro: Meet the 365 Hawaii Real Estate Panel
00:40 – Mortgage Market Update with Travis Green
06:45 – East Side Market Report (Hilo, HPP, Puna) with Newi
14:15 – South Hawaii Trends & Insights with Andy Madrid
22:38 – North Kohala & Waimea Luxury Market with Jana Mahoney
35:14 – Kona Neighborhoods Breakdown with Eric Ziemelis
39:30 – North Kona Stats: Sales, Prices & Inventory
40:44 – Panel Forecasts: What’s Next for Big Island Real Estate?
47:00 – Interest Rates: What Could Push Them Lower or Higher?
58:00 – Will Home Prices Drop in the Next Recession? [Chart Breakdown]
1:01:17 – National Trends & Local Takeaways
1:01:35 – How to Contact Our Experts + New Website
