COVID19 UPDATE
Big Island

Housing Price Update – Nationwide and Big Island

Some interesting data from Scott Grannis’ financial blog:

The above chart compares the Case Shiller index of housing prices in 20 metropolitan markets to the RadarLogic index of prices in 25 metropolitan markets. The charts show housing prices are essentially flat for a two year period.

Economists call this a consolidation, as the market is trying to find a bottom. From a Big island perspective, this seems about right for our market too. Prices seem to be flat for the most part, with small moves up and down. Perhaps more significant is the continued reduced inventory.

This chart from Dept. of Numbers.com tracks the inventory of home in 54 metro markets and is a good barometer of what is happening nationwide. Again, this seems to track with the reduced inventory we are seeing here on the Big Island. The chart below may offer some good news for buyers and sellers.

This chart shows the Case Shiller index of 10 major markets. The data goes back to 1987 and is adjusted for inflation. While prices have fallen over 30% from their highs, at the same time, real median family income has risen and mortgage interest rates are at all time lows. Housing has never been more affordable.

This, combined with lower inventory and very little new home construction, may point the way to a housing recovery.

Comments (2) Show CommentsHide Comments (Remember)

Cool. Add your comment...

Your email address will not be published. Required fields are marked *

Leave your opinion here. Please be nice. Your Email address will be kept private, this form is secure and we never spam you.

Mauna Kea Beach Resort Update – September 2011 « Hawaii Real Estate Market

September 8, 2011

[…] clients have recently purchased in this screamin’ deal category. This is the case now that inventory is getting picked over in several […]

Mauna Kea Beach Resort Update – September 2011 « Hawaii Real Estate Market

September 8, 2011

[…] clients have recently purchased in this screamin’ deal category. This is the case now that inventory is getting picked over in several […]

More Articles from Hawaii Life