Economic Job Growth and South Maui Real Estate

July 12, 2013

According to a recent report by the Bureau of Labor Statistics (BLS), the U.S. economy added a whopping 195,000 jobs in June. This is great news for the country, but also for Maui. The job gains were in the leisure and hospitality sectors, which can only be considered a fantastic sign for us. After all, many enthusiastic new Maui home owners started out as visitors to our lovely South Maui oceanfront condos, hotels and vacation rentals.

Other job gains were in the professional, business services, retail, health care and financial sectors. That’s a pretty big umbrella for national prosperity, which indicates an increasing level of stability, not just growth.

The good news doesn’t end there. On top of the major growth in June, the BLS added 70,000 jobs to their calculations for April and May. Also, average hourly earnings were up by 10 cents to $24.01, which is a 51 cent increase for this year so far. It may not seem like a lot, but when you’re looking at nationwide statistics, it adds up.

If you are interested in taking advantage of these positive conditions, browse through our South Maui real estate listings. Purchasing a second property in Hawaii for use as a vacation rental is a great was to earn some extra money and help pay for the investment. Prices are not as low as they were, since there are so few foreclosure and bank-owned properties left, but the security of such an investment is higher than it was when prices were low and the future uncertain.

Those of you who prefer a stable investment may want to get off the fence about purchasing real estate. The way all the market trends are going, things are only going to get more expensive, and that means that if you buy now, the likelihood of prosperity is very high. If you need any assistance with your search, you’ll find our contact information at the bottom of the page. Mahalo! – By Mark Harbison

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