Click the link below to review Old Republic Title and Escrow's compiled information and analysis:
July 09 Oahu Real Estate StatisticsMost economists will tell you that when the number of sales start to pick up then the market is beginning to turn.  Now some will say that's because there are such good deals and because of the tax credit incentive....well check out the graph on rising median prices.  Real Estate is always assessed over time - and comparing to last year is a waste of time.  Last year the market was crashing.  What we've been waiting for is signs of the recovery - and in Hawaii, at least on Oahu, I believe we are begining to see that recovery.

Some people will say the increase in sales is because of the short sales and lower prices - lower prices and low interest rates are key to the recovery.  But on the whole, most areas of Oahu have realistic prices and the market values have become reasonable.  Will we return to the go-go days of double digit market value gains - no and thank goodness.  Real Estate is always measured over time, and we are in a stable market with small or flat value increases and indications we have passed the bottom.

So take advantage like the investors and if you can buy now, get the first time buyer's credit, and ride the small wave back up.  Most of you will be kicking yourselves for not getting in the market now!!

Read here Everything You Need to Know About the First Time Buyers' Tax Credit