Foreclosures, short sales will cloud housing market

Real estate experts are predicting a flat landscape for Hawaii’s residential real estate market in 2012.

“You can buy a house now and a year from now it will basically be the same price,” said Geroge Scott, principal broker at Stott Real Estate Inc.

The median price of a single-family home sold on Oahu is currently $580,000, according to the most recent data from the Honolulu Board of Realtors. That is just 1 percent higher than a year ago.

The same holds true for the number of single-family home resales on Oahu — up only 1.2 percent from 2010.

 

The author of this article is: Duane Shimogawa 

 See the original post at: http://www.bizjournals.com/pacific/print-edition/2011/12/30/foreclosures-short-sales-will-cloud.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+vertical_54+%28Residential+Real+Estate+Industry+News%29

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