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Honolulu housing inventory declines among the highest

By Erika Engle

POSTED:
LAST UPDATED: 07:53 a.m. HST, Aug 13, 2013



The Honolulu housing market had among the largest declines in year-over-year for-sale inventories, according to the Realtor.com National Housing Trend Report.

Honolulu’s for-sale inventory was down 23.78 percent in July, down from a year-ago, representing the fourth-largest decline among five market areas measured.

The largest decline in for-sale inventory was the 30.21 percent in Detroit, Mich., followed by the 28.91 percent drop in the Massachusetts market area including Boston, Worcester, Lawrence, Lowell and Brockton.

Denver’s 25.10 percent decline was third, followed by Honolulu, with the 23.05 percent inventory drop in Naples, Fla. coming in at No. 5.

Nationally, however, Realtor.com found the 5.24 percent decline in housing inventory was the second consecutive month of single-digit declines. National median list prices rose 5.27 percent, while the median age of inventory dropped 16.67 percent.

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allie wrote:
Young peopel like me don't have a chance at a house out here
on August 13,2013 | 08:10AM
dpinsacto wrote:
Not unless your Mommy and Daddy are rich.
on August 13,2013 | 09:11AM
tiki886 wrote:
That's because people like you stymy developers at every turn. You want cheap housing but you refuse to allow building. It's your fault and the old farts who think they doing a good thing by eliminating development.
on August 13,2013 | 11:33AM
nodaddynotthebelt wrote:
You don't want to live here anyway, allie, so it doesn't matter to you. For families like my own, it matters. It is the rich that run the gambit. They purchase these homes at high prices in order to flip over for higher prices thus pricing us regular folks out of the market. What is disturbing is that rich foreigners have a better chance at buying a home in our backyard than ourselves. And to add insult to it all they don't even live in their homes but for a small fraction of the year. We should tax these foreigner more as it seems like they can afford it. Then there are the rich mainland people who buy these homes and pay the same property taxes as the retired senior citizen living on a fixed income. One multi-millionaire even paid a token three hundred bucks or so just because his home was registered as a historic site. This while the poor can pay over a thousand each tax cycle.
on August 13,2013 | 12:12PM
ryan02 wrote:
Not everyone can afford to live in Hawaii (or Manhattan, or Paris, or Beverly Hills, or Monaco). That's just a reality. But our politicians are doing a great job of reducing Hawaii's desirableness. And when paradise turns into a third-world lua, and we are even more noisy, dirty, pothole-y, ugly, polluted, etc., then the prices will drop and many more people will be able to afford to live in here. Except then they won't want to. And Hawaii will reach equilibrium. A third-world equilibrium.
on August 13,2013 | 10:09AM
nigelUV001 wrote:
Mom and dad don't have to be rich. The greatest treasure is staring at you when you look in the mirror. Practice compassion, and enrich yourself. Seek to be happy from the inside, and you will find a great treasure, actually this is the greatest treasure in life. You cannot always choose to be young, and you cannot choose to be healthy, also you cannot always choose to live in a home you own, you cannot also choose to always be beautiful or well liked by others...but you can always choose to be happy under any circumstance. Being happy is always your choice. No one can take that away from you. Being Happy is the greatest choice you can make every day you wake up. Being Happy is the greatest treasure you can grant yourself. No physical home can overtake that. Peace.
on August 13,2013 | 10:11AM
nodaddynotthebelt wrote:
Good point but having a home is very important to a family's security.
on August 13,2013 | 12:16PM
tiki886 wrote:
Here are some interesting details of why Hawaii, Oahu in particular has high home prices:

http://www.hawaiibusiness.com/Hawaii-Business/April-2013/Why-big-development-is-so-difficult-in-Hawaii/


on August 13,2013 | 12:18PM
HD36 wrote:
The sheer population density on Oahu is stressful.
on August 13,2013 | 09:44PM
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