Aloha and Welcome to The Quarterly Market Report from Kahala Associates, where we take a closer look at the most recent real estate activity here on O’ahu.
While Clear Capital reported a 2.2 percent drop in U.S. home prices year over year through November of 2011, the same report once again included Honolulu among the top 15 performing markets with 1.9% quarter over quarter price growth. Also noteworthy, the percentage of distressed properties has stabilized nationally at 24.6% with Oahu continiuing to rank among the lowest impacted communities @ 9.9% of all transactions reported.
Taking a broad look at real estate across the island, a comparison to 4th quarter 2010, shows Pending Sales were up 3.1 percent for single-family homes and 6.9 percent for condos - a strong indicator of local buyer confidence as well as general market stability during the recent holiday tourist season.
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