This month’s Maui Real Estate numbers continue to show strengthening market conditions. We are seeing job growth on a national level and mortgage rates continue to drop to historical lows. This is creating strong buying power, not just for conventional loans, but for the first time home buyer. In August, %32 percent of national home sales where first time home buyers, up 4% from last year. A 0% down payment on a home loan is now a reality for both VA loans, and the first time home buyer.
It is an exciting time for Real Estate on Maui. We are seeing a shift in our tourist demographic and we see many visitors from the west coast, including Oregon, Washington and San Francisco. South Maui vacation rental units offer a unique opportunity, as our busy season is just around the corner.
Source: Fidelity National Title
Don’t forget, I am always available to answer any questions you may have, feel free to call, email or text!
Christian Slocum R(S)