Honolulu housing March monthly indicators

The Honolulu Board has published the monthly statistics and there are some interesting takeaways from the single-family homes monthly indicator report.  We are seeing a year over year growth in median sales price.  It is a small 4.2% gain, but taken along with other indicators we could be headed toward continued increases in prices.  The growth in the number of sales from March 2009 to March 2010 was up 32.1% and the inventory of homes has declined by 12.9%.  So, we are at a point where we have only 7.2 months of supply of single-family inventory.  That is a dramatic decline of 29.8%.  This taken with a decline in the days on market by 10% to 72 days may be a signal that we are looking at perhaps a spike in prices coming very soon.

There is still an aggressive push by the home buyer tax credit.  As the deadline approaches there is likely to be a continued increase to the frenzied pace of buying.

Click here to view the entire report.

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