Building Wealth in Honolulu Property--Rapid and High Appreciation
Home Equity in the Honolulu Real Estate Market
Than Merrill highlights in Fortune Builders.com (http://www.fortunebuilders.com/honolulu-real-estate-market-trends/#) the very reason that investors continue to seek property in Honolulu: Rate of Appreciation. While our home prices are outrageously high, home equity builds at an astounding rate, and investment in housing has been outpacing what is being realized in the U.S. financial markets. Consider the following statistics, cited by Merrill, that compares Honolulu to the U.S. national average:- Homes purchased in the Honolulu housing market one year ago have appreciated, on average, by $7,931. The national average was $12,783 over the same period.
- Homes purchased in the Honolulu housing market three years ago have appreciated, on average, by $106,505. The national average was $55,406 over the same period.
- Homes purchased in the Honolulu housing market five years ago have appreciated, on average, by $119,414. The national average was $49,675 over the same period.
- Homes purchased in the Honolulu housing market seven years ago have appreciated, on average, by $84,991. The national average was $9,474 over the same period.
- Homes purchased in the Honolulu housing market nine years ago have appreciated, on average, by $145,648. The national average increased $3,419 over the same period.
Considered to be among the most severely unaffordable housing market in the world, the convincing factor for buying here is clearly the rate of appreciation that our residential housing offers, particularly if the property is held for three or more years. Low inventory has been driving the prices higher across the island of Oahu for the past several years, with the February 2015 median sales price for single family homes at $648,000.
I read your post and this blog is very good. You have provided good knowledge in this blog. This blog really impressed me. Thank you for sharing your knowledge with all of us. drywall construction company Dublin
ReplyDelete