Aloha,
The number of sales in June were up for single-family homes and down for condos. Year-to-date, prices were moderately higher for single-family as well as for condos. The slower market can be good for both Buyers and Sellers.
For example, neighborhoods like Kaneohe and Mililani are seeing more of an uptick in both sales and prices. When the Federal Reserve lowers interest rates, we will see slightly lower mortgage interest rates; however, the NAR’s chief economist predicts a floor of about 6%. The message is “do not wait for a 3% mortgage interest rate to find your dream home.”
Here are the June 2024 Market Statistics from HBR.
As always, I love to hear from you!
Thank you, Judy
