U.S. existing home sales fell 5.4% month-over-month and 5.4% year-over-year to a seasonally adjusted annual rate of 3.89 million units, with monthly sales down in all four regions, according to the National Association of REALTORS (NAR). Higher mortgage rates, along with rising sales prices, have kept many prospective buyers on the sidelines, despite more home choices and less competition for those homes.
Maui: Year to Date 2024 vs. Year to Date 2023
New Listings increased 21.1 percent for Single Family homes and 47.1 percent for Condominium homes. Pending Sales increased 1.1 percent for Single Family homes but decreased 19.9 percent for Condominium homes.
Median Sales Price increased 11.6 percent to $1,300,000 for Single Family homes and 4.8 percent to $880,000 for Condominium homes. Days on Market decreased 1.7 percent for Single Family homes and 2.8 percent for Condominium homes.
Home prices have maintained their upward trend across much of the country, even as sales slow and inventory improves.
