Hawaii Real Estate Trend or Development

The word “trend” when used in the context of real estate seems out of place and a term used by realtors to impress and make potential buyers and sellers feel part of the norm or fashion! However, what those concerned with selling or buying a property actually want to learn, are the facts related to property movement and development. How do these factors affect what they are going to receive for their home, or what they must pay to get one?

1113111-0So, disregarding the fashion and vogue side of property, what has actually been happening to the real estate market in Hawaii!

As you all probably noticed, the Hawaiian real estate market fluctuates on a year to year basis. This was shown last year in relation to the significant purchase increases in single-family homes, like condos and townhouses. The various market forecasters indicate it is a situation that should last beyond this year, with the tendency for even more positive developments, or trends if you prefer, arising.

The sale of real estate in Hawaii is generally recognized as being ahead of the market, in comparison to the rest of America. Despite the recent housing crisis that struck the state, it was able to recover, relatively easier than most of the other American states. This was attributed to various factors, such as:

• Being located in the middle of the Pacific Ocean
• Hawaii is regarded a prime real estate

It has reinforced the opinions of the market pundits that this housing market will continue to prosper in the foreseeable future!

Particularly for first-time buyers of real estate, the best time to buy could be, right now! With the Federal Government continuing to lower interest rates, to the extent they are at an all-time low and continuing to be so, the time to buy that dream house could not be better.

Another influence however, is that the potential sellers of this prime property are also realizing that opportunity is knocking. They could now be in a position whereby they can sell their present home and purchase another and more desirable one!

While the real estate market in Hawaii is galloping along at an ever increasing speed, this same market in other states is tying to catch up. Therefore, as the future drift for the property market seems to be towards Hawaii, now is the time for buyers and sellers, to make that important decision!