Oahu sales slow

New homes sales have slowed to less than half the volume of the last two years, Pacific Business News reports:

First quarter new home sales on Oahu slowed to 282 units, less than half of the volume of the past two years.

"This is thanks to limitations on supply," said Ricky Cassiday, who tracks Oahu new home sales for Central Pacific Bank. "Builders have not been able to produce at the same pace as demand."

Prices are still up over last year, however:

Average list price: $552,619, up more than $89,000 from a year ago.