July 7th, 2008
The island of Maui remains quieter than usual at this time. There seem to be fewer tourists than is usual for early July and therefore the market for Maui real estate is similarly quiet. It isn't yet clear whether this is entirely a function of the airline bankruptcies and commensurate loss of lift or other factors. For details, contact us!
June 28th, 2008
The news coming from the mainland housing market remains bleak, but there are a few causes for optimism. New home sales nationally fell in May to an annual rate of 512,000 units, down 2.5% from April. Exisitng home sales increeased 2% to just under a 5 million annual pace while median price fell 6 from a year ago. None of this is particularly good news. But there are a few bright spots. In California, declining prices led to an 18% increase in sales in May. How does this impact Maui real estate? As we have said before, this kind of data influences the willingness of mainlanders to buy real estate anywhere. Locally, the last nine homes in Moana Estates have been placed under contract in a bulk sale. For more details, contact us!
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