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Honolulu – Highest Residential Real Estate Price Growth in Nation

Prices in the Honolulu market grew 14.79 percent from September 2006 to September 2007 according to the September 2007 LoanPerformance Home Price Index reported by Pacific Business News. 14.79 percent growth for Honolulu was the highest in the nation.

The article also included the market with the biggest drop, which was Riverside-San Bernardino-Ontario market in California seeing the greatest drop at 13.59 percent.

According to the report home prices fell in 17 states tracked by the index, while five states saw price appreciation of between 5 percent and 10 percent. Hawaii was the only market to experience double-digit growth.

It was reported that the price index covers 956 Core Based Statistical Areas and 659 counties in 50 states and the District of Columbia.

Posted by Randy L. Prothero - Hawaii REALTOR® on 11/19/2007 08:21 PM

Comments (9)

real estate market report, honolulu, real estate, homes

Originally posted at: Hawaii Randy's Real Estate Opinions: Honolulu – Highest Residential Real Estate Price Growth in Nation

This post has been included in Hawaii Information Honolulu County, HI Information

9 Comments on Honolulu – Highest Residential Real Estate Price Growth in Nation

NOV

2007

Well, we knew that...and it keeps growing... only the number of sales have gone down...weird huh?

Sally - Despite these strong numbers I still hear some agents complaining about how bad they think it is. Maybe for them.

Randy, This is great information. I am glad to see that you are getting the word out. It is only a matter of time until the numbers firm up, but that will require that the banks get a little more comfortable with our circumstances in Hawaii. I just spoke with a guy who needs to get refinancing as he has a balloon payment due on a home he bought last year on the Big Island and things don't look good for him. This kind of a situation is what is holding down the sales numbers.

Aloha Randy,

Good to see you still have a strong HI market. Hope to see you at sell-a-bration in Jan.

Jerry - I keep reading gloom and doom in the newspaper and wonder what they are looking at. Our market is still pretty strong, despite there negative efforts.

Lynda - I look forward to meeting you then.

NOV

2007

Randy,

I wish Wisconsin had that kind of growth.

Looks like snow in the forcast tonight perhaps.

How are the multi family sales in your area?

Sincerely,

Tom Braatz

Tom - Multi-family sales traditionally are slower to move. Even in the hot market they had longer days on market. I have one a block from the beach on the north shore of Oahu. Send me a buyer who wants to get away from the snow.

Randy, Sometimes I think the media guys want the world to fall apart. It's interesting to see the same philosophy from another perspective. Circumstances in Iraq seem to be getting better so rather than beating the drum and letting people know what's going on, the media stopped talking about it. My Mom always told me if I couldn't say something nice, I should say nothing at all. The Media seems to take the other perspective. If they can't say something mean and destructive, then they say nothing at all. Otherwise, they keep writing gloom and doom even about a not so bad market here in Hawaii. From my perspective, the market here is great.

Jerry - I agree, it seems like the media cheers for disaster.

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