Strengthening Tourism Good For Honolulu Real Estate Market

December 23rd, 2009 categories: Rants & Riffs, The Market

Call it trickle down economics or whatever you like, but Pacific Business News in reporting positive things for Honolulu’s tourism market.

“Compared with the first half of the year, the last three months have been downright prosperous, helped by annual events like the marathon and North Shore surfing, and international conventions that drew tens of thousands of attendees.” CLICK HERE TO READ THE ENTIRE ARTICLE

As tourism improves, the Hawaii job market will improve and as it improves almost everything else will get better. Here is another sign that improvement is coming which means that today’s home and condo prices could be at or very near the low in the real estate market.

To me, the big question is when we will start to see price appreciation and I don’t have a clear answer. Traditionally, the core Honolulu single-family residence market leads the Oahu real estate market out of recession. Given the low level of inventory at the end of November, I expect a change sooner than later.

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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.

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