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2009 Home Prices Hit Bottom, Recovered a Bit

Encouraging numbers in home sales, construction permits and mortgage rates.
January 29, 2010

2009 Home Prices Hit Bottom, Recovered a Bit

South Maui Home Sales By Mark Harbison

According to a year-in-review report from Standard and Poor's Case Shiller index, the three-year slide in U.S. home prices looks to have hit bottom in 2009, but now shows signs of recovery.

Prices peaked in 2006 and plummeted 32 percent between 2000 and 2009. As of the beginning of 2009,  the national index of home prices returned to numbers close to fall 2003 levels after a 6.3 percent gain.

Prices are expected to remain flat on Oahu in 2010, or rise slightly. According to Standard & Poor's chief economist, David Wyss, prices will slow around winter but still remain ahead of the lows of early 2009.

As of last week, thirty year fixed-rate mortgage rates fell below 5 percent after three weeks of long-term mortgage rate decline.

On another positive note, building permits went up in December, which was a good sign for home building.

A little bit of good news from many sectors is very nice to see. It's also good to march into 2010 with a little confidence that things will continue to improve!


We recommend a look at new Maui property listings as well as our Maui real estate listings. Wailea golf vistas also include some great buys. If you have any questions or would like to contact us, you can call (866) 874-1942 toll free or Lisa's cell at (808) 283-7426. You can also email mark@realestatemauihawaii.com or lisa@realestatemauihawaii.com.

Blogs for January 2010

2009 Home Prices Hit Bottom, Recovered a Bit

Posted on January 29, 2010
2009 Home Prices Hit Bottom, Recovered a Bit

By Mark Harbison

According to a year-in-review report from Standard and Poor's Case Shiller index, the three-year slide in U.S. home prices looks to have hit bottom in 2009, but now shows signs of recovery.

Prices peaked in 2006 and plummeted 32 percent between… Continue Reading

Kihei Rotary Club Hosts Whale Watch and Snorkel

Posted on January 22, 2010
Kihei Rotary Club Hosts Whale Watch and Snorkel

By Mark Harbison

The Kihei Rotary Club will be hosting a whale watch and snorkel outing on February 13th. Proceeds will help them continue to do the great work that they've done for Maui, including their support of the less fortunate as well as… Continue Reading

Presentation on Maui Restaurants

Posted on January 15, 2010
Presentation on Maui Restaurants

By Mark Harbison

Interested in Maui cuisine? Whether you are visiting, living on Maui, or planning a move to Maui, you shouldn't miss the upcoming presentation on Maui restaurants at the Five Palm's Resort.

The topic to be explored is all about Maui restaurants, based on the guide "Top… Continue Reading

Maui Island Plan Available for Review

Posted on January 08, 2010
Maui Island Plan Available for Review

By Mark Harbison

The Maui Island Plan can now be reviewed online at tinyurl.com/maui-island-plan. The County Council Planning Committee convened in the Wailuku-Kahului Plan Area on December 14 in the Council Chamber but has yet to meet in the other five community plan areas on Maui.

The… Continue Reading

National Holiday Sales Spike

Posted on January 01, 2010
National Holiday Sales Spike 

By Mark Harbison

Recent information from MasterCard Advisors' SpendingPulse estimates indicate that retail sales increased an impressive 3.6 percent, based on MasterCard payments, including estimates for both cash and checks.

This holiday season was considered by many economists to be a critical make-or-break period for many retailers that have… 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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