Aloha & Good Morning!
Today Maui will be sunny with highs near 890!
You
know how much I like to bring you good news as well as helpful news. We all need to have the most up-to-date
information when it comes to buying or selling our property. This past week I’ve been reading a lot about
the housing market and specific Hawaii real estate news. I found the following articles really helpful
and wanted to share them with you.
As
always, you can contact me anytime to discuss your home buying or selling
needs!
NEWS
Hawaii's
foreclosures fall by almost half in May, RealtyTrac says - Foreclosures in Hawaii fell 48 percent during May and the national
foreclosure rate was the lowest since 2006, according to a report from real
estate data service RealtyTrac.
Nearly
half of Hawaii homes bought with cash in the first quarter - RealtyTrac says that 48 percent of home sales in Hawaii were made in cash
during the first quarter.
Hawaii
has 11 of the 20 best beach town housing markets, according to RealtyTrac –
Four of these beach towns are right here on Maui!
REALTORS®
Price Expectations by State in Next 12 Months Based on April 2014 REALTOR®
Survey – The expected price increase in Hawaii is listed at
greater than 5% to 6%
The
Latest Mortgage Purchase Applications - There
was a surge in the number of people filing for mortgages in the first week of
June.
Don't forget to get your name in for this year's exciting iPad
giveaway!
Looking for more great
articles, videos and advice? Check out the Real Estate Sales Maui Team
on FACEBOOK, TWITTER, BLOGGER and PINTEREST
Lender Corner by Craig Haueisen
Last Week In The News
The Mortgage Bankers Association said its seasonally adjusted
composite index of mortgage applications for the week ending June 6 rose 10.3%
from the previous week. Purchase volume rose 9%. Refinancing applications
increased 11%.
Retail sales rose 0.3% to $437.6 billion in May. This follows a
revised 0.5% increase in April. Compared to a year ago, May retail sales have
increased 4.3%.
Wholesalers increased their inventories 1.1% to $530.6 billion
in April. Sales at the wholesale level rose 1.3% to $450.2 billion in April. On
a year-over-year basis, sales were 7.8% higher than April 2013. The seasonally
adjusted wholesale inventories/sales ratio in April 2014 was 1.18.
Import prices rose 0.1% in May, following a 0.5% decrease in
April. On a year-over-year basis, import prices were up 0.4% in May. Export
prices also rose 0.1% in May, following a 1% decrease in April. Compared to a
year ago, export prices were up 0.5% in May.
Total business sales increased 0.7% to $1,337.4 billion in
April, up 5.4% from a year ago. Total business inventories rose 0.6% to
$1,728.3 billion in April, up 5% from a year ago. The total business
inventories/sales ratio in April was 1.29.
The Reuters/University of Michigan consumer sentiment index for
June’s initial reading fell to 81.2 from May’s final reading of 81.9. The
current conditions component rose from 94.4 to 95.4. The expectations component
fell from 73.7 to 72.2.
Initial claims for unemployment benefits for the week ending
June 7 rose by 4,000 to 317,000. Continuing claims for the week ending May 31
rose by 11,000 to 2.614 million. The less volatile four-week average of claims
for unemployment benefits was 315,250.
Upcoming on the economic calendar are reports on the housing
market index on June 16 and housing starts on June 17.
Craig Haueisen is a Loan Officer with Prospect Mortgage.
Please feel free to email him or call him for any of your Mortgage needs.
Office: 808-298-7549 or Email: craig.haueisen@prospectmtg.com
Click here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen
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