According to the market update released by Honolulu Board of REALTORS® earlier this week, single-family home and condo sales are increasing by the month.
“The month-over-month improvement indicates our market is steadily strengthening as the state reopens,” said Tricia Nekota, president, Honolulu Board of REALTORS®.
Although the total home sales were down 23.3% compared to June of 2019, the total home sales from May to June 2020 increased by 22.3%. New listings have also seen a month-over-month increase of 13.6%.
“With interest rates at record lows, it’s an opportune time for buyers. We also continue to see pent up demand and low inventory creating advantageous conditions for sellers”, Nekota noted.
With the market continuing to strengthen and inventory and interest rates remaining low, now is the time to make moves when it comes to buying or selling.
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