Skip to content
Richard-Devine

Richard-Devine

Food 100% guaranteed

Primary Menu
  • food restaurants
  • Food & Cooking
  • Technology
  • Real Estate
  • health
  • Sports
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Oahu real estate expected to remain competitive despite rise in interest rates
  • Real Estate

Oahu real estate expected to remain competitive despite rise in interest rates

By Damaris J. Dickerson 3 years ago

[ad_1]

HONOLULU (HawaiiNewsNow) – After a record 2021 for home sales, Oahu real estate experts are planning for the market to remain competitive and for prices to keep increasing.

According to the Honolulu Board of Realtors, last year saw nearly 12,000 sales, 7,000 of which were condos.

The current median price for a single family home is over $1.125 million and just last week, the Federal Reserve raised interest rates, which now stand around 4.5%.

HBR president Chad Takesue says it’s still too early to tell what kind of impact the rate hike will have.

He doesn’t think prospective homebuyers will be discouraged, but may reassess their options.

“Sometimes you’ll see a shift of people who are initially looking in the single family market shift towards a condo as an option, mainly because of price point and the inventory available for condo market versus single families,” Takesue explained. “So you’ll see some of that shifting with rates going up.”

February sales in Waikiki and Kakaako saw a 64% and 53% jumps, respectively, compared to last year.

Takesue adds that despite higher interest rates, Hawaii typically has strong- long term appreciation, so regardless of when a home is bought, the investment should gain value.

Appreciation which is partly driven by competition from Hawaii’s low-inventory.

“We just keep lagging behind how many homes are needed to fill the demand every year,” Takesue said. “Regardless of if it’s an up market or down market, we’ve been trailing for so long. On the flip side, it’s also why you hold your value here once you buy whereas in other mainland markets, there’s a lot more fluctuation when the economy fluctuates.”

Copyright 2022 Hawaii News Now. All rights reserved.

[ad_2]

Source link

Tags: Food Games, Food Gift Baskets, Food Grade Mineral Oil, Food Hall, Food Handlers, Food Handlers Card, Food Handlers Permit, Food High In Fiber, Food High In Iron, Food High In Potassium, Food High In Protein, Food Ideas, Food In Spanish, Food Inc, Food Insecurity, Food Insecurity Definition, Food Intolerance, Food Intolerance Test, Food Italy Is Famous For, Food Jobs, Food Jokes, Food Journal, Food Journal App, Food Journal Template, Food Justice, G Food Items, G Food Mart, G Food Mart Deli, G Food Names, G Food Near Me, G Food Store, G Food Truck, G Foods, H Food Express, H Food Logo, H Food Market, H Food Mart, H Food Mart Upland Ca, H Food Share Price, H Foods, H Foods Words, I Food Deli, I Food Items, I Food Near Me, I Food Real, I Food Real White Chicken Chili, I Foods, I Foods Names, I Foods Words

Continue Reading

Previous 17 Best Travel Gifts for Cruisers in 2022 – Cruise Maven
Next The real build vs. buy question in martech is around talent, not technology
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Nov    

Archives

  • May 2025
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • March 2020
  • April 2019

Categories

  • Business
  • Dental Clinic
  • Education
  • Food & Cooking
  • food restaurants
  • health
  • Real Estate
  • Sports
  • Technology

BR

potatoagent
techoutgrowth

SeedBL

Seedbacklink

BP

backlinkplacement.com

richard-devine.com | Magazine 7 by AF themes.

WhatsApp us