Consulting Sales/Leasing Services Property Management
Available Units:
sååSQåFTåOFlåCE
sååSQåFTåOFlåCE
å WITHååSQåFTåWAREHOUSE
'REATåLOCATIONåCOASTALåVIEWS
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
FE8en/&."AW_bkW#AedW">?/,-*+ š E\ÓY.&.)(/#''''
mmm$J9=AedW$Yec š cW_b0cf6J9=AedW$Yec
4/3.5, large multi level
home, w/ rec. room, laundry
room, full basement,
elevator, lap pool, PV & a
2 car garage on 22,835
A rare treat! Great location
at the top of Kamani Trees
subdivision in Kailua-Kona.
3/2, attached garage &
MLS# 621063 $469,000
POOL
$469,000
Dana M. Ching, GRI • RB-22545 • 808-989-6792
private back yard.
Call our offi ce now to speak
with one of our agents!
Beverly R. Kanda,
RS-34749 • 808-345-4154
Erin C. Detwiler, RS
RS-76700 • 808-557-9044
75-5915 Walua Rd. • Kailua-Kona, Hi 96740
808-325-6526 | www.bigislandrealtors.com
sq.ft. of land.
MLS# 620880 $678,300
A HILO RETREAT – WAIAKEA
Phyllis G. Sellens, PB, GRI, CRS, ePRO • RB-10787 • 808-987-9225
West Hawaii Real Estate | December 7, 2018 15
year Pending home sales slip 2.6 percent in October
Pending home sales declined
slightly in October in all
regions but the Northeast,
according to the National
Association of Realtors.
The Pending Home Sales Index,
a forward-looking indicator based on
contract signings, decreased 2.6 percent
to 102.1 in October, down from 104.8
in September. However, year-over-year
contract signings dropped 6.7 percent,
making this the tenth straight month of
annual decreases.
Lawrence Yun, NAR chief
economist, said that ten straight
months of decline certainly isn’t
favorable news for the housing sector.
“The recent rise in mortgage rates
have reduced the pool of eligible
homebuyers,” he said.
Yun notes that a similar period
of decline occurred during the 2013
Taper Tantrum when interest rates
jumped from 3.5 percent to 4.5
percent. After 11 months – November
2013 to September 2014 – sales finally
rebounded when rates decreased.
“But this time, interests rates are
not going down, in fact, they are
probably going to increase even
further,” Yun noted.
While the short-term outlook
is uncertain, Yun stressed that he is
very optimistic about the long-term
outlook. The current home sales level
matches sales in 2000. “However,
mortgage rates are much lower today
compared to earlier this century,
when mortgage rates averaged 8
percent. Additionally, there are more
jobs today than there were two
decades ago,” said Yun. “So, while
the long-term prospects look solid,
we just have to get through this shortterm
period of uncertainty.”
All four major regions saw a
decline when compared to a year
ago, with the West seeing the most
pronounced drop. Yun said that
decline is not at all surprising. “The
West region experienced the fastest
run-up in home prices in a short time
and therefore, has essentially priced
out many consumers,” Yun said.
Yun suggests that the Federal
Reserve should be less aggressive in
raising rates. He cites the collapse in
oil prices and the decrease in gasoline
prices. “The inflationary pressure
is all but disappearing. Given that
condition, there is less of a need
to aggressively raise interest rates.
Looking at the broader economy and
keeping in mind that the housing
sector is a great contributor to the
economy, it would be wise for the
Federal Reserve to slow the raising of
rates to see how inflation develops.”
Yun pointed to year-over-year
increases in active listings from data
at realtor.com to illustrate a potential
rise in inventory. Denver-Aurora-
Lakewood, Colo., Seattle-Tacoma-
Bellevue, Wash., Columbus, Ohio,
San Francisco-Oakland-Hayward,
Calif. and San Diego-Carlsbad, Calif.
saw the largest increase in active
listings in October compared to a
year ago.
“The inflationary pressure is all but disappearing. Given that condition, there
is less of a need to aggressively raise interest rates. Looking at the broader
economy and keeping in mind that the housing sector is a great contributor to
the economy, it would be wise for the Federal Reserve to slow the raising of
rates to see how inflation develops.” — Lawrence Yun, NAR Chief Economist
/www.bigislandrealtors.com
