The University of Hawaii Economic Research Organization (UHERO) has issued a report that predicts a rise in home prices in the next few years due to rising personal income and job growth, low interest rates, relatively little new housing construction and tight inventory of existing homes for sale. The report stated, "These sources of housing demand will push up against available supply, leading to an acceleration of Oahu home prices to high single digits this year and next." The report added that despite the new condominium developments that are being built in Kakaako, there will not be enough new housing to keep up with the demands of the natural population growth of the island of Oahu.
Source: Honolulu Star Advertiser, 4-7-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
