Aloha! June has brought tumultuous global news with Brexit – the British voting to leaving the European Union. Most global predictions for the economic future are not very positive. Certainly we are affected by almost anything that impacts the U.S. economy. With elections coming up, news of interest rates going lower we may see many Americans cautious about investing. A reasonable part of our market is our Canadian friends who have slowed buying due to low CAD / U.S. Dollar ratios (0.77 at this time). Predictions show that many think Brexit will keep that from changing for a long time. We’ve been predicting an influx of Asian buyers, but we have not seen that in large numbers.
I must admit that I haven’t come to clear conclusion on how Brexit will impact Maui real estate. But as in most tumultuous economic news, people want to put their money where it will be safe – and real estate appears to be a good long-term option. World populations are growing faster than supply. The world’s wealthy seem to keep getting wealthier. Interest rates will be low for some time. And Hawaii is still a beautiful place to live or visit.
Here are some of the better articles I found on the topic:
- 5 WAYS BREXIT WILL CHANGE REAL ESTATE IN THE UNITED STATES
- Brexit Effect On US Real Estate: Why Millennials May Be Priced Out Of Some Markets
This offers a mix of predictions and surprisingly none mention Maui or even Hawaii. I see opportunity!
The Maui Market Trends – June 2016
Once again we see that June was a pretty steady month. There were increases in sales of both homes and condos. We had an increase in prices of homes and 3 month trend of decreasing prices for condos. That is pretty typical adjustment at this time of the year; if our market were big enough to show “seasonal adjustments”, I suspect it would be considered normal. Inventories have been fairly stable throughout 2016.
Questions or comments? Need help with Buying or Selling or just understanding the market?
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