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Positive momentum boosts January sales on Oahu, Hawaii
 
The Oahu housing market is off to a strong start in 2020. January Honolulu Board of Realtors® figures show increases in both sales volume and prices, compared to January 2018. And indicators point to the positive trend continuing.
“The combination of confidence in the economy, an increase in available inventory late last year, and continued low mortgage interest rates carried our strengthening real estate market into the next decade,” says Kalama Kim, principal broker at Coldwell Banker Pacific Properties. “The increase in pending sales is an excellent sign of healthy demand and a pre-cursor to stronger closed home sales for the next couple of months.”
Both economic indicators and January HBR data confirms continued equilibrium for buyers and sellers, as the latest figures don’t tip to either a buyer’s or a seller’s market.
“Buyers may interpret the strength of the last few months as stability for the long haul. The numbers continue the slow growth we have seen since May of last year,” adds Kim. “Low mortgage interest rates and first-time homebuyer loan discounts are the benefits of buying in today’s market. However, buyers need to be aggressive in their offers and make decisions quickly, which may make them feel ... more

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