Hawaii Island wide Real Estate and Mortgage Update- February 2024

Across the board, we are seeing an uptick in available homes on the market, and list to sale ratio is about 97%. Joe Eagan, Wynn and Eagan Team, gave the mortgage update and said that when the jobs numbers came out, and inflation was not going down, the Fed raised the interest rates, which led to an average mortgage rate right now of 7.125%. Joe said this move made a decrease in rates in March unlikely.
Homes priced well are leaving the market within days, while days on market increased across the board on single family homes and condos.
Thanks to our Realtor and mortgage partners for providing their insights for this update!
Join our 365Ohana on www.365HawaiiLiving.com if you'd like to purchase a home on Hawaii Island or be referred to agents on other islands!
Eric and Julie Ziemelis offer marketing expertise to home sellers with a large group of buyers from our private Facebook group, our real estate RUclips channel and our extensive email list of potential buyers. For Buyers, we offer expertise and resources to ensure we remove the uncertainly from the experience AND provide a community you can reach into for information about moving and events to help you create friendships when you arrive. A full circle Ohana experience!
We also partner with these fabulous Realtors and mortgage pros to help you buy or sell around the island. Looking for connections? Contact us!
Julie Ziemelis | RS-85062
REAL Broker
[e-mail]
808-785-2898
www.365hawaiiliving.com

[@bb_alexander5385]

Hawaii is for sure 10000% stopping vrbo short term rentals. I kinda agree as we do not have enough apartments.