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July Dip in Home Building Nationwide

U.S. home construction dropped in July.
August 21, 2009

July Dip in Home Building Nationwide

By Mark Harbison

Maui Homes for Sale in Wailea

Construction of new homes in the U.S. grew for three months in a row until July when it dipped by 1% to an annual rate of 581,000 properties according to the Commerce Department. This is evidence that the recovery of the housing market remains weak.

Prices also fell .9% since June and 6.8% in comparison to July last year. The fall in new home construction was led by apartments which dropped at an annual rate of 13%.

Many analysts have pointed to fear of job loss as an explanation why many people are putting off the purchase of a new home. Inability to get the loans needed for a home must also be a significant factor. With the nation's jobless rate up to 9.5% as of June, these concerns are no surprise.

As for Maui, condo sales levelled off in July with 69 sales as opposed to 63 sales in July of last year. The median price of a condo was $350,000 in July this year, which is 39% lower than last year's $575,000. Home prices were down 13% since July of last year, with only 57 sales in July of this year as opposed to 97 last year.


Looking for Maui real estate? See our Maui real estate listings, or you can always use our online Maui real estate search tool. If you need any help with our website or your pursuit of great Maui real estate, please send an email to Mark mark@realestatemauihawaii.com or Lisa lisa@realestatemauihawaii.com. You can also call (866) 874-1942 toll free or Lisa's cell at (808) 283-7426. Thanks for reading and have a wonderful weekend!

Blogs for August 2009

Native Hawaiian Plant Sale on Maui

Posted on August 28, 2009
Native Hawaiian Plant Sale on Maui

By Mark Harbison

Like plants? How about taking a relaxing break from the stresses of the week by stopping at the Maui Nui Botanical Gardens for a Native Hawaiian Plant Sale? It will be held on August 29th from 9am to 2pm.

Here is a list of… Continue Reading

July Dip in Home Building Nationwide

Posted on August 21, 2009
July Dip in Home Building Nationwide

By Mark Harbison

Construction of new homes in the U.S. grew for three months in a row until July when it dipped by 1% to an annual rate of 581,000 properties according to the Commerce Department. This is evidence that the recovery of the housing market… Continue Reading

Maui County Ban on Shark Tour Business

Posted on August 14, 2009
Maui County Ban on Shark Tour Business

By Mark Harbison

The Maui County Council's Economic Development, Agriculture and Recreation Committee unanimously voted to recommend passage of a bill to ban shark tour businesses in Maui County. Fortunately, no such businesses exist on Maui, so no one will be put out of business… Continue Reading

Native Hawaiian Chamber of Commerce Business Fest on Maui

Posted on August 07, 2009
Native Hawaiian Chamber of Commerce Business Fest on Maui

By Mark Harbison

The third annual Maui Native Hawaiian Chamber of Commerce Business Fest is coming up on September 4th at the Grand Wailea Resort Hotel and Spa. Mercer "Chubby" Vicens, its president, has invited members and friends to attend.

The day will kick off… Continue Reading

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Mark and Lisa

Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

Mark@RealEstateMauiHawaii.com

(808) 283-3785

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