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):

2 Comments:

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

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

http://www.AmericanInventorSpot.com
AmericanInventorSpot.com

 
At 8:42 AM, Blogger HomePriceMaps.com said...

www.HomePriceMaps.com/hawaii.htm 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 HomePriceMaps@gmail.com with your zipcode and or address and they'll update the site and email you within a few days.

 

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