KONA CROSSROADS SHOPPING CENTER
75-1027 Henry Street, Kailua-Kona, HI 96740
ONLY 2 SPACES AVAILABLE FOR OFFICE OR RETAIL
• 75 square foot retail
• 1,800 square foot
offi ce or retail
This high traffic center anchored by Safeway is in Kailua-Kona Town and has lots of free
parking. With easy access to both Palani Road and Queen Ka‘ahumanu Highway this
clean and thriving center is the perfect spot for your business to increase sales volume.
Debbie Parmley (B) CCIM
Vice President | Hawaii
License No. RB-21953
Leasing Services – Island of Hawaii
Direct +1 808 987 7722
Main +1 808 524 2666
debbie.parmley@colliers.com
For details on all listings visit, www.DebbieParmley.com
Consulting Sales/Leasing Services Property Management
Available Units:
• 1,395 sq ft offi ce
• 3,090 sq ft offi ce
with 2,000 sq ft warehouse
Great location, coastal views.
is the leading full-service Commercial Real Estate fi rm on
the Big Island. TCG is looking for potential qualifi ed tenants
as well as commercial property owners who need leasing
services for their property or a Leasing Agent and Property
Manager. They also offer consulting services for commercial
real estate issues.
Monique Peacock, (PB)
• Consulting
• Sales/Leasing Services
• Property Management
is the leading full-service Commercial Real Estate fi rm on
the Big Island. TCG is looking for potential qualifi ed tenants
as well as commercial property owners who need leasing
services for their property or a Leasing Agent and Property
Manager. They also offer consulting services for commercial
real estate issues.
Monique Peacock, (PB)
RB-19825
PO Box 908, Kailua-Kona, HI 96745 • Offi ce (808) 329-1111
www.TCGKona.com • email: mp@TCGKona.com
West Hawaii Real Estate | January 4, 2019 13
Pending home sales take hit in November
The Pending Home Sales
Index, a forward-looking
indicator based on contract
signings, decreased 0.7
percent to 101.4 in November, down
from 102.1 in October. However, yearover
year contract signings dropped
7.7 percent, making this the eleventh
straight month of annual decreases.
Lawrence Yun, NAR chief
economist, said the current sales
numbers don’t fully take into account
other data. “The latest decline in
contract signings implies more shortterm
pullback in the housing sector
and does not yet capture the impact
of recent favorable conditions of
mortgage rates,” he said.
Yun added that while pending
contracts have reached their lowest
mark since 2014, there is no reason to
be overly concerned, and he predicts
solid growth potential for the long-term.
All four major regions sustained
a drop when compared to one year
ago, with the West taking the brunt
of the decrease. “The West crawled
back lightly, but is still experiencing
the biggest annual decline among
the regions because of unaffordable
conditions,” Yun said.
Yun suggests that affordability
challenges in the West are part of the
blame for the drop in sales. Home
prices in the West region have risen
too much, too fast, according to
Yun. “Land cost is expensive, and
zoning regulations are too stringent.
Therefore, local officials should
consider ways to boost local supply;
if not, they risk seeing population
migrating to neighboring states and
away from the West Coast.”
Yun indicated the latest
government shutdown will harm
the housing market. “Unlike past
government shutdowns, with this
present closure, flood insurance is not
available. That means that roughly
40,000 homes per month may go
unsold because purchasing a home
requires flood insurance in those
affected areas,” Yun said. “The longer
the shutdown means fewer homes
sold and slower economic growth.”
That said, Yun cited year-overyear
increases in active listings from
data at realtor.com to illustrate a
potential rise in inventory. Denver-
Aurora-Lakewood, Colo., Seattle-
Tacoma-Bellevue, Wash., San
Francisco-Oakland-Hayward, Calif.,
San Diego-Carlsbad, Calif., and
Providence-Warwick, Rhode Island
saw the largest increase in active
listings in November compared to a
year ago.
Yun believes that there are good
longer-term prospects for home sales.
“Home sales in 2018 look to close
out the year with 5.3 million home
sales, which would be similar to that
experienced in the year 2000. But given
the 17 million more jobs now compared
to the turn of the century, the home
sales are clearly underperforming today.
That also means there is steady longerterm
growth potential.”
November Pending Home Sales
Regional Breakdown
The PHSI in the Northeast rose 2.7
percent to 95.1 in November, and is
now 3.5 percent below a year ago. In
the Midwest, the index fell 2.3 percent
to 98.1 in November and is 7.0 percent
lower than November 2017.
Pending home sales in the South
fell 2.7 percent to an index of 115.7
in November, which is 7.4 percent
lower than a year ago. The index
in the West increased 2.8 percent
in November to 87.2 and fell 12.2
percent below a year ago.
The National Association of
Realtors® is America’s largest trade
association, representing 1.3 million
members involved in all aspects of
the residential and commercial real
estate industries.
The Pending Home Sales Index is a
leading indicator for the housing sector,
based on pending sales of existing
homes. A sale is listed as pending when
the contract has been signed but the
transaction has not closed, though the
sale usually is finalized within one or
two months of signing.
/www.TCGKona.com
/www.DebbieParmley.com
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