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Hawaii real estate was always considered a safe bet by market experts, but recent years have seen some property prices going down. In the last two-three years the market has stabilized and has even shown some reassuring signs of growth. So is investing in Hawaii real estate still considered safe?
Some will say that now is a great time to invest in Hawaii properties, as the market is bound to continue and stabilize and the current trend presents golden opportunities, while others will advise caution.
The truth is, when it comes to real estate there are never any guarantees and the market will sometimes surprise, for good or ill, even the best of experts.
Let?s take a look at some information that may help you in making your own decision.
Some Recent Changes in Hawaii Real Estate
Let?s compare data from 2009 and 2012 to try and see if the real estate market in Hawaii is indeed experiencing a stabilization process.
If we take a look at 2009 data, we will see that prices for a family home, specifically in Oahu, were down by more than eighteen percent, compared to the prices of the previous year.
According to the Honolulu board of realtors, the price growth in 2012 was nine percent in comparison with the previous year.
Market Stabilization Factors
According to Leroy Laney from the First Hawaiian Bank, the real estate market and the economy in general are definitely stabilizing and headed in the right direction.
Another factor which may contribute to the continuation of the stabilization and growth trend in Hawaii real estate is the fact that the housing supply shortage in the continental US is reaching new heights. Housing demand in the continental US is estimated at one and a half million while supply stands at only eight hundred thousand!
It is a pretty safe bet to say that whoever took advantage of the price decreases and purchased real estate in Hawaii during 2009 did the right thing.
If we take a look at how the market behaved in the past, we will see that inclines were always followed by leaps and bounds.
Even if the Hawaii real estate market will experience more drops in the next few years, the current trend should serve as a reassurance that these slumps will probably be followed by further stabilization.
Comparing data from 2009 and 2012 definitely shows some reassuring signs. While no one can ever accurately predict how the real estate market will behave in the future, Hawaii real estate is still considered by most experts to be a safe bet.
Tom Regev is a professional writer representing the Hawaii Shipping website which specializes in providing information and quotes for peope moving to Hawaii. Image Source: shchukin
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Source: http://www.realestatenarrative.com/is-it-still-safe-to-invest-in-hawaii-real-estate/
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