05-09-2024, 05:16 PM
(This post was last modified: 05-09-2024, 06:58 PM by Punatang.
Edit Reason: added link for facts
)
#1 - The war on remote work
#2 - Interest rates
Those are certainly two of the main reasons houses are not selling in HPP. Folks are having or just wanting to move back to Cali or wherever and the home buyers left here today cant afford the $500K - $600K HPP house at 6-7%.
But people are buying houses.
In HPP, in the last 30 days only 3 newly constructed home sales closed out of about 30 offered. In Ainaloa, in the last 30 days fully 9 newly constructed homes closed out of about 9 offered.
https://www.redfin.com/county/663/HI/Haw...-155.03861
10% VS 100%
So guaranteed, there is at least a #3 and that is Prices.
There might be a few more too. Animal spirits?
#2 - Interest rates
Those are certainly two of the main reasons houses are not selling in HPP. Folks are having or just wanting to move back to Cali or wherever and the home buyers left here today cant afford the $500K - $600K HPP house at 6-7%.
But people are buying houses.
In HPP, in the last 30 days only 3 newly constructed home sales closed out of about 30 offered. In Ainaloa, in the last 30 days fully 9 newly constructed homes closed out of about 9 offered.
https://www.redfin.com/county/663/HI/Haw...-155.03861
10% VS 100%
So guaranteed, there is at least a #3 and that is Prices.
There might be a few more too. Animal spirits?