How's the Market?Well, it may finally be happening. The market looks like it might begin to cool. The average 30-year fixed rate mortgage rose to more than 5% in April, the highest in a decade. This

Dated: May 11 2022
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Well, it may finally be happening. The market looks like it might begin to cool. The average 30-year fixed rate mortgage rose to more than 5% in April, the highest in a decade. This surge in rates has caused the pool of eligible buyers to shrink. Mortgage applications are down, with refinancing applications, in particular, dropping more than 70% compared to this time last year. The rising cost of homeownership is forcing Americans to adjust their budgets, with many electing to move from the larger, more expensive cities to locations with a lower cost of living.
On Maui, here are a few high level stats that illustrate what's happening in our local market in April:
Click here to view the full 22-page report for April 2022.
Have questions?
I love to talk Maui real estate! Contact me at 808-281-4711 or diane@dianebercik.com.
Diane Bercik specializes in residential property sales on Maui. She serves as Broker-in-Charge for Maui Paradise Properties (MPP). Diane has worked on transactions all over the island and has a partic....
How's the Market?Well, it may finally be happening. The market looks like it might begin to cool. The average 30-year fixed rate mortgage rose to more than 5% in April, the highest in a decade. This
How's the Market?Nationally, home sales dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down,
How's the Market?The national real estate market remains hot ahead of the spring selling season, with existing home sales up 6.7% as of last measure. Experts attribute the growth in sales to an
How's the Market?The 2022 real estate market begins where 2021 left off, in which existing home sales reached their highest level since 2006, with the National Association of REALTORS®