Oahu home inventory PLUMMETS to 4 year low
Posted by Tony Kawaguchi, RA on Monday, October 12th, 2009 at 2:59pm.1289 and 1864. That's the number of homes and condos available on Oahu, respectively. Those are the lowest numbers since fall 2005. The lowest number of homes available in 2006-2009 so far was 1600. Perspective - it's only 5.4 months of inventory!
No wonder my buyers have had a hard time finding homes to buy, while my sellers have been selling quickly with multiple offers. No wonder my clients looking for a water front townhome in Hawaii Kai are having a hard time. Usually there are a dozen to choose from, but not anymore.
Is it the low rates? The tax credit? The economy bouncing? Whatever it is, the inventory only proves again that Oahu is the best place to buy and hold real estate!
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