Honolulu, HI - Local Housing Data - Summary

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Honolulu, HI Local News

  • Honolulu, HI - December 2013 - New Home Closings Numbers Suggest Market Fall is Slowing

    New home sales fell in Honolulu, HI in December. Average prices of new homes moved up, rising 29.7%. The percentage of new home closings belonging to attached homes dropped, falling 22.9% percentage points. Average prices of new and existing homes dropped 3.8%. The percentage of new home closings...

  • Horton Hawaii masterplan design unveiled

    D.R. Horton-Schuler Division's 11,750-home master-planned Hoopili project in West Oahu, which is being designed by Group 70 International, will include a redesigned downtown that will focus on the planned rail transit stations that will look unlike anything in Hawaii, according to the chairman of...

  • Honolulu, HI - November 2013 - Figures for New Home Closings Suggest Market Decline is Subsiding

    New home sales fell in Honolulu, HI in November. Average prices of new homes moved up, rising 29.3%. The percentage of new home closings belonging to single family homes rose, climbing 22.0% percentage points. The percentage of new home closings belonging to attached homes dropped, falling 22.0%...

Prices of New Homes Rise in Honolulu, Sales Drop According to Recent Data

Posted on: Apr 06, 2014 07:18:20 AM

In January, the Honolulu, HI market saw a decline year-over-year in new home closings, and the percentage fall that was steeper than December 2013 gave implications of worsening market conditions. There was a 69.7% decline in new home closings from a year earlier. This came on the heels of a 36.7% fall year-over-year in December.

A total of 670 new homes were sold during the 12 months that ended in January, down from 794 for the year that ended in December.

New home closings represented 7.8% of overall housing closings. This is a fall 20.7% of closings a year earlier. For new and existing homes, closings slid in January after also declining in December year-over-year.

Pricing and Mortgage Trends

The average price of new homes was $610,451 per unit in January, up 55.7%from a year earlier. This hike is better than the 25.1% bump in December year-over-year.

Along with new home prices, there was an increase year-over-year in the average mortgage size on newly sold homes. In January 2014, there was a 71.5% boost in the average mortgage size, reaching $527,182. Average mortgage size jumped 16.8% in December 2013 from a year earlier.

 
 
 

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