Friday, March 10, 2006

Rates, prices continue to rise in Honolulu

Mortgage rates have climbed to levels not seen since 2003, according to this article from the Honolulu Advertiser/AP:

The rising rates have begun to cool the sizzling housing market with sales of both new and existing homes posting bigger-than-expected declines in January.
Nothaft said the housing sector, which posted record sales levels for five straight years, was shifting to a slower pace, but he predicted the decline would not be severe enough to disrupt the overall economy like the stock market slowdown did in 2000.

"We see no signs of a bursting bubble, but rather a return to a more normal pace of activity," he said.

Some economists believe that 30-year mortgage rates could rise as high as 7 percent by the end of the year.

Check out this chart featuring real estate trends for a couple Honolulu neighborhoods (click on the image to enlarge):


At 6:43 AM, Blogger Tru Efforte said...

So any thoughts from folks as to when we see these graphs turn down?

At 8:42 AM, Blogger said... integrates how much homes SOLD for in Hawaii as well as nationwide using the google mapping technology. If you don't see data for your area simply email with your zipcode and or address and they'll update the site and email you within a few days.


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