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Honolulu housing recovery tops nation

By Erika Engle

LAST UPDATED: 02:56 a.m. HST, Aug 27, 2013

Home price recovery in Honolulu is the top-gaining in the U.S., according to Homes.com.

The real estate website’s new Local Market Index for mid-sized markets show’s year-over-year recovery in the Honolulu market with a 23.67 index point increase.

Honolulu's index tops several California markets including Los Angeles-Long Beach-Santa Ana at 21.43; San Francisco-Oakland-Fremont at 20.52; and San Diego-Carlsbad-San Marcos at 19.44 index points. The California markets were among the top five.

Homes.com calculates the Local Market Index using sales data on the same houses over time, enabling side-by-side comparison on the same property.


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tiki886 wrote:
This comment has been deleted.
on August 26,2013 | 08:04AM
Maneki_Neko wrote:
Not really. The inventory did not change much year on year. Inventory affects longer term trends, not one year price change results.

What drove the price change were exchange rates that favored foreign buying of trophy properties (each one being in the millions), the addition of some very high end developments that drove the average up and an inflow of mainland money for second home properties as investors sought a place for excess cash.

on August 26,2013 | 08:28AM
allie wrote:
also, limited land available for building
on August 26,2013 | 08:16AM
tiki886 wrote:
This comment has been deleted.
on August 26,2013 | 09:03AM
WooWoo wrote:
on August 26,2013 | 09:52AM
kkelli4u wrote:
Price to buy a home here is too expensive, and for what! The rate of pay doesn’t match the cost of iving here, thou I was born and raised here/I love my home….Now have you seen the homes here, just run down, no monies to fix up or renovate. Anytime, we make money the government wants part or all….”what a political State”…….
on August 26,2013 | 08:34AM
Morimoto wrote:
"Recovery" is relative. Prices never went that far down. At least not far down enough where the average person could afford a house here. Just face it, the average working person in Hawaii will never be able to afford a house (a condo maybe), and even if they can afford a house, they'll be a prisoner to their mortgage for a long time. Just not worth it if you ask me. Now if only I could find a job somewhere else, I'd move in a minute. Looks like I'm stuck here for now.
on August 26,2013 | 10:03AM
Hapa_Haole_Boy wrote:
Jump on the Hawaii RE train, if the Great Recession didn't derail it, almost nothing will; and now it's steaming forward, reaching ever and ever higher top speeds.
on August 26,2013 | 03:41PM
control wrote:
home prices in Hawaii have always been a rip-off. No insulation, no basement, no attic, no garage, no yard, no mechanicals such as a/c or heating. Just a wooden shell piece of junk. Slap another coat of paint and jack the price up again.
on August 27,2013 | 07:51AM
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