Home Prices Rise?
July 28th, 2009 categories: For Sellers, The Market
The Wall Street Journal is reporting that the Case-Shiller index is showing positive news.
“Home prices in major U.S. cities rose in May for the first time in almost three years, the latest data to indicate a bottom could be forming in the housing market—and the broader economy.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE
On its own, this data could be taken with a grain of salt, however, combine it with other positive news from the last few weeks and we may be seeing the end of the mainland real estate bust. This is good for Honolulu for two reasons.
1. Though Honolulu market prices are down as compared to the highs of 2005 and 2006, they don’t appear to have taken the hit experiencec by mainland markets. If this is the case, then slips in owner’s equity may be subsiding and poised for a move-up.
2. In the past, when the mainland market turns positive, buyers from the mainland start buying into the Hawaii real estate. Again, as more buyers come into a particular market, demand rises and it starts to move.
Stay tuned and let’s hope we can look back six months to a year from now and see that the Honolulu real estate market turned this summer!
SEARCH FOR YOUR HONOLULU HOME
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
OTHER HONOLULU REAL ESTATE POSTS WORTH READING
Honolulu Real Estate Vs. Stock
A Good Lesson
Answers To Your Questions About Keahi Pelayo
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
Pricing Your Home
Long Term Investment Makes Sense
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