Interest Rates, Home Prices & Inventory on Hawaii Island – May Market Update
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 [email protected] Check out what is on the market at www.365HawaiiRE.com 👇 Drop your thoughts and questions in the comments! We'd love to hear if you're planning a move, buying a home, or just curious about Hawaii real estate. 👉 Join our community: 365HawaiiLiving.com 👉 Connect with a mortgage pro: (Info below!) 📌 Subscribe for the latest Big Island real estate updates and insights! Julie Ziemelis [email protected] Eric Ziemelis | RS-80376 808-333-1004 365 Hawaii Group ΓEA⅃ Broker LLC www.365Hawaiire.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
