While real estate sales remain slow in comparison to previous years, we are noticing a steady increase in overall sales over the course of the year.
The following graph shows news escrows by week for the 37 weeks through October 25, 2009. As the graph indicates, while we have experienced the normal spikes due to the holiday and seasonal increase in visitors, the average upward trend is fairly steady.
Many things can be read into the data below. One can surmise that this trend in buying reflects the increase in short sales and foreclosure properties and the lowering of property values. Obviously, the more foreclosures and short sales there are, the lower the property values fall.
The bottom line is that home prices are coming down slowly and you can find some attractive deals on the island of Kauai!
Aloha!
