Big Island Real Estate Report-january-31-2013 Statistics, Trends, Sales, Kona

1. GRIGGS REPORT
#129 - JANUARY 31, 2013
A TWICE MONTHLY REAL ESTATE MARKET PERSPECTIVE FOR NORTH KONA AND THE BIG ISLAND
PAGE 1
NORTH KONA RESIDENTIAL DATA
ABOUT THE PENDING RATIO: The Pending Ratio is used throughout the report to serve as an indicator of Market Strength and Market Trend..
PENDING RATIO = NUMBER OF PENDING SALES DIVIDED BY ACTIVE LISTING TIMES 100 / THE HIGHER RATIO = STRONGER MARKET DEMAND.
Why it is a useful indicator:
1) It is a current leading indicator of market Demand vs. Supply Dynamics based on Listing and Pending Sale MLS Data.
2) It is a readily available useful indication or market strength when tract over time shows market trend.
The following Color Codes describe what the ratio numbers mean in terms of the type of market.
( This calibration is less accurate when there is an abnormal supply of distressed properties entering the market on a regular basis such as currently is the case. )
PEAK MARKET - Signals the End of the Real Estate Cycle is eminent
PENDING RATIO 100 or GREATER
PEAK
SELLERS MARKET PENDING RATIO FROM 51 TO 99
SELLER'S
NEUTRAL OR STABLE MARKET PENDING RATIO FROM 30 TO 50
NEUTRAL
BUYERS MARKET PENDING RATIO BELOW 30
BUYER'S
NORTH KONA RESIDENTIAL DATA TABLE
TABLE 1
ACTIVE
LISTINGS
PENDING
SALES
PENDING
RATIO
1/31/1997
1/31/1998
1/31/1999
1/31/2000
1/31/2001
1/31/2002
1/31/2003
1/31/2004
1/31/2005
1/31/2006
1/31/2007
1/31/2008
1/31/2009
1/31/2010
1/31/2011
1/31/2012
1/31/2013
no data
374
305
192
290
no data
228
133
152
304
407
449
447
397
279
268
205
no data
63
73
106
134
129
133
151
155
119
77
77
41
82
105
97
120
no data
16.84
23.93
55.21
46.21
no data
58.33
113.53
101.97
39.14
18.92
17.15
9.17
20.65
37.63
36.19
58.54
2010/2011 %chg
-24%
24%
62%
to $4M
TYPE OF
MARKET
Num ber Sold Average
12 Month Period
Price
no data
BUYER'S
BUYER'S
SELLER'S
NEUTRAL
no data
SELLER'S
DEMAND PEAK
SELLER'S
NEUTRAL
PRICE PEAK >>>>>>>>>> >>>>>>>>>
BUYER'S
DEMAND LOW
BUYER'S
NEUTRAL
PRICE BOTTOM >>>>>>>>>> >>>>>>>>>
SELLER'S
252
246
330
441
447
519
529
660
683
648
474
394
234
283
357
402
420
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
4%
VOLUME
MILLIONS
273,700
283,000
268,900
313,700
360,400
354,900
372,800
456,000
585,100
737,200
753,200
718,900
664,100
500,900
467,900
457,100
514,200
12%
Inventory continues to be tight with a 24% decline from last year. All other stats continue to show improvement from a ye ar ago.
continue to show increase in almost each report.
The pending ratio has taken its seasonal turn upward due to increased number of pending sales and stable or declining invent ory.
Median
# SOLD
Price Last 30 days
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
69.0 $ 228,000
69.6 $ 237,000
88.7 $ 224,500
138.3 $ 246,000
161.1 $ 275,000
184.2 $ 275,000
197.2 $ 322,200
301.0 $ 395,500
399.6 $ 498,000
477.7 $ 625,000
357.0 $ 630,000
283.2 $ 603,500
155.4 $ 529,500
141.8 $ 420,000
167.0 $ 395,000
$
$
183.8
216.0
$ 368,500
$ 399,100
16
14
19
34
41
44
28
48
43
39
29
20
7
23
19
23
31
8%
35%
18%
Both Average and Median Price
Chart 1 - Kona Residential Median Price (thous) & Pending Ratio - Past 2 Years
70
60$395
Res-Median Price
Res Pending Ratio
$410
$400
$391
$393
$383 $385 $385 $385
50
40
30
$375
$369
$369
$369
$373
$365
$365
$399 $400
$390
$380
$370
20
$360
10
$350
0
$340
CHART 2 - N. Kona Residential Median Price vs Number Sold Since 1997
Median Price
Number Sold 12 Month Period
800
$700,000
700
$600,000
600
$500,000
500
$400,000
400
$300,000
300
200
$200,000
100
$100,000
0
CHART 2 -
$-
The growth in the number of home sales is remains relatively stable.

2. PAGE 2
NORTH KONA RESIDENTIAL PRICE RANGE TABLE AND BIG ISLAND RESIDENTIAL LISTINGS, PENDING SALES AND SALES Year To Date
TABLE 2
KONA
Residential NUMBER
PRICE
RANGE
ACTIVE
TO
$
400,000
$ 401,000 $ 500,000
$ 501,000 $ 700,000
$701,000 $ 900,000
$ 901,000 $1,500,000
$1.5M
$ 4.0M
$4.001 M
or GREATER
NORTH KONA RESIDENTIAL PRICE RANGE DATA
NORTH KONA RESIDENTIAL PRICE RANGE DATA
AVERAGE
PRICE
NUMBER
PENDING
33
30
38
34
$
322,600
$
452,900
$
625,900
$
827,900
40 $ 1,165,300
30 $
2,278,500
36 $ 7,833,800
AVERAGE
PRICE
65
$304,800
21 $ 445,600
14 $ 600,000
12 $
783,100
5 $1,197,000
3 $ 2,716,700
5 $ 9,189,000
PENDING VOL
MILLIONS
$
$
$
$
$
$
$
KONA RES
2012
232
61
52
26
25
8
19
19.8
9.4
8.4
14.4
13.6
8.2
45.9
NUMBER SOLD PENDING
2013
RATIO
214
80
57
36
25
11
12
196.97
70.00
36.84
35.29
12.50
10.00
13.89
TABLE 2 - The under $400,000 inventory now stands at only 33 homes. ....WOW! The over $4.0M market has had quite a lift in its seasonal sales with decline in
inventory and nice spike in pending sales of 5 homes. This is up from 0 one month ago. Pink "Buyers" market is only indicated in 3 price ranges now, all above
CHART 3 - NORTH KONA RESIDENTIAL NUMBER SOLD PAST 12 MONTHS
BY PRICE RANGE - Number, Percent of Total
11, 3% 12, 3%
TO $400,000
25, 6%
$401,000 $500,000
$501,000 $700,000
36, 8%
$701,000 $900,000
$901,000 $1,500,000
$1.5M $ 4.0M
$4.001 M or GREATER
214, 49%
57, 13%
80, 18%
TABLE 3
3-1 TO 3-4
ALL EAST HI
RESIDENTIAL
3-5 TO 3-9
ALL WEST HI
RESIDENTIAL
ALL BIG ISLE
ALL BIG ISLE
ALL BIG ISLE
BIG ISLE
R ES
ACTIVE
PENDING
SOLD YTD
ACTIVE
PENDING
SOLD YTD
ACTIVE
PENDING
SOLD YTD
BIG ISLAND LISTING, PENDING SALES AND SALES YEAR TO DATE
NUMBER
LOW
562
AVERAGE
MEDIAN
NORTH KONA HIGH
RESIDENTIAL PRICE RANGE DATA
MODE
$25,500
$5,900,000
$374,694
$255,000 N/A
186
$42,000
$1,995,000
$240,703
$175,000 N/A
46
$46,500
$575,000
$221,767
$200,500
$230,000
655
$19,600
$25,000,000
$1,257,135
$519,000
$695,000
230
$30,000
$11,900,000
$644,924
$368,500
$399,000
VOLUME (M) PENDING
$
210.6
RATIO
$
44.8
$
10.2
33.10
55
$50,000
$3,300,000
$468,814
$350,000
$350,000
1217
$19,600
$25,000,000
$849,631
$369,000
$30,000
$11,900,000
$464,190
$266,500
$299,000
101
$46,500
$3,300,000
$356,298
$282,500
$230,000
148.3
25.8
$1,034
$
$
193.1
36.0
$299,000
416
$823
$
$
35.11
34.18
CHART 4 - West HI, East HI and Hawaii Island - Residential Pending Ratio
over the Past Two Years
45.00
40.00
35.00
30.00
25.00
20.00
15.00
West Hawaii Ratio
East Hawaii Ratio
Big Is Res Ratio
10.00
5.00
-
CHART 4 - A seasonal increase in Pending Ratio is on cue with both East and West sides showing nice increase in Pending Ratio.
1/31/12
Island wide inventory is down 17% from

3. PAGE 3
CHART 5 - Percentage of ISLAND DISTRESSED RESIDENTIALsales Listings that are Short Sales or REO
BIG Total MLS Active, Pending or 90 PROPERTIES TREND
60.00%
50.00%
40.00%
N. KONA 3-7
WAIKOLOA 3-6-8
30.00%
WAIMEA 3-6-4,5,6
S HILO 3-2
PUNA 3-1
20.00%
10.00%
0.00%
CHART 3: THIS CHART IS PROBABLY THE BEST INDICATOR OF THE ISLAND WIDE DESTRESSED PROPERTY TREND.
All market areas covered showed declines in the percentage of MLS listing that are either REO or Short Sales.
Chart 6 - Number of REO Properties By District , Owned by:
Fed. National Mortgage Assn. (FANNIE MAE), Deutsche Bank, Wells Fargo & Bank of America
# of REO Properties
60
Puna
50
S Hilo
40
30
S Kohala
20
10
01/31/12
02/29/12
03/31/12
04/30/12
05/31/12
06/30/12
07/31/12
08/31/12
09/30/12
10/31/12
11/30/12
12/31/12
N Kona
S Kona, Kau
0
01/31/13
CHART 4:
THIS CHART LOOKS AT THE FORECLOSURE TREND AS REFLECTED IN THE NUMBER OF Fannie Mae, Deutsche Bank, Wells Fargo and
Bank of America OWNED PROPERTIES.
MUCH OF THE DECLINE IS DUE THE PASSAGE OF ACT 48. THIS INCLUDES ALL PROPERTY TYPES, BUT IS
DOMINATED BY RESIDENTIAL.
By far the greatest number of REO's are in the Puna market area.
Island wide the numbers haven't decline much since last summer. Current total is 75.
PAGE 4

4. PAGE 4
TABLE 4
to $1.5M
ACTIVE
LISTINGS
PENDING
SALES
no data
no data
297
200
154
no data
178
60
112
279
407
413
367
300
234
176
147
2012/2013 %chg -16%
TYPE OF
MARKET
no data
no data
78
78
62
no data
193
202
202
72
45
26
19
65
60
61
65
7%
1/31/1997
1/31/1998
1/31/1999
1/31/2000
1/31/2001
1/31/2002
1/31/2003
1/31/2004
1/31/2005
1/31/2006
1/31/2007
1/31/2008
1/31/2009
1/31/2010
1/31/2011
1/31/2012
1/31/2013
PENDING
RATIO
no data
no data
26.26
39.00
40.26
no data
108.43
336.67
180.36
25.81
11.06
6.30
5.18
21.67
25.64
34.66
44.22
28%
Number Sold AVERAGE
12 Month Period
Price
no data
no data
BUYER'S
NEUTRAL
NEUTRAL
no data
PEAK
DEMAND PEAK
PEAK
BUYER'S
PRICE PEAK >>>>>>>>>> >>>>>>>>>
BUYER'S
DEMAND LOW
BUYER'S
BUYER'S
PRICE LOW >>>>>>>>>> >>>>>>>>>
NEUTRAL
310
312
370
470
483
391
500
614
609
662
398
251
184
166
295
303
322
6%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
139,700
128,700
131,200
149,900
169,500
188,800
208,400
236,400
315,000
435,400
443,500
406,400
346,200
276,300
229,600
199,400
224,900
13%
VOLUME
MILLIONS
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
43
40
49
70
82
74
104
145
192
288
177
102
64
46
68
60
72
20%
Price
# SOLD
Last 30 days
$ 126,000
$ 108,500
$ 115,000
$ 131,000
$ 137,500
$ 150,000
$ 183,000
$ 205,000
$ 290,000
$ 395,000
$ 400,000
$ 360,000
$ 330,000
$ 242,500
$ 199,000
$ 163,500
$ 187,300
15%
24
20
41
39
30
24
52
58
34
44
29
12
10
21
23
33
23
-30%
MEDIAN
Chart 7 - Kona Condo Median Price( thous) & Pending Ratio - Past 2 Years
Median Price
Condo Pending Ratio
60
50
$250
$186
$180
40
$175
$172
$168
$165
$162
$165
$172
$171
$173 $175 $180
$187
$200
$150
30
$100
20
$50
10
0
$-
CHART 7 - Like Residential the N. Kona condo inventory shows a Year over Year decline. Unlike residential the number pending sales and sales is not much different than
a year ago.
Median price is up a healthy 15% percent now compared to median price in previous twelve months.
CHART 8 NORTH KONA CONDO MEDIAN PRICE vs NUMBER SOLD
700
600
9/
10/
11/
12/
1/31/201
$450,000
$400,000
$350,000
500
$300,000
400
$250,000
300
$200,000
Number Sold 12
Month Period
$150,000
200
MEDIAN Price
$100,000
100
0
CHART 8 - Condo price appears to be on an increasing trend due to strong sales numbers and declining inventory.
$50,000
$-

5. PAGE 5
NORTH KONA LAND DATA
TABLE 5
to $1.5M
1/31/1997
1/31/1998
1/31/1999
1/31/2000
1/31/2001
1/31/2002
1/31/2003
1/31/2004
1/31/2005
1/31/2006
1/31/2007
1/31/2008
1/31/2009
1/31/2010
1/31/2011
1/31/2012
1/31/2013
2012/2013 %chg
ACTIVE
no data
no data
372
262
290
no data
187
80
55
127
198
267
236
292
193
187
198
6%
PENDING
SALES
PENDING
RATIO
TYPE OF
MARKET
no data
no data
41
61
84
no data
88
118
43
39
17
13
12
15
11
8
24
no data
no data
11.02
23.28
28.97
no data
47.06
147.50
78.18
30.71
8.59
4.87
5.08
5.14
5.70
4.28
12.12
no data
no data
200%
183%
Year over year stat's actual show an increase in inventory .
Num ber Sold
12 Month Period
89
142
BUYER'S
141
BUYER'S
229
Neuatral
287
no data
206
Neuatral
294
DEMAND PEAK
272
Seller's
277
BUYER'S
150
PRICE PEAK >>>>>>>>>>>>>>>>>>>
>>>>>>>>>>>>>>>
97
BUYER'S
57
DEMAND LOW
44
BUYER'S
50
BUYER'S
55
PRICE BOTTOM >>>>>>>>>>>>>>>>>>>>>>>>>>>
69
BUYER'S
90
30%
Average
Price
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
212,200
194,700
147,800
157,900
210,800
195,200
199,500
265,800
362,600
510,000
531,500
463,400
405,200
290,800
256,000
272,400
220,100
-24%
VOLUME
MILLIONS
Median
# SOLD
Price Last 30 days
$
18.9
$
27.6
$
20.8
$
36.2
$
60.5
$
40.2
$
58.7
$
72.3
$ 100.4
$
76.5
$
51.6
$
26.4
$
17.8
$
14.5
$
14.1
$
18.8
$
19.8
$ 135,000
$ 125,000
$ 100,000
$ 116,000
$ 160,000
$ 170,000
$ 155,000
$ 225,000
$ 316,000
$ 435,000
$ 500,000
$ 420,000
$ 300,000
$ 272,000
$ 200,000
$ 180,000
$ 189,900
3
11
13
20
20
15
19
27
16
9
11
5
1
7
4
6
6
6%
6%
0%
The up side of this is there is also double the number of escrows and sales are up 24%.
Chart 9 - Kona Land Median Price (thous) & Pending Ratio Past 2 Years
LAND-Median Price
18
16
LAND Ratio
$250
$215
$199
14
$190
$184
$189
$175
$190
$190
$200
$178
$189 $190
$183 $188
$200
12
$150
10
8
$100
6
4
$50
2
0
$-
CHART 10 - NORTH KONA LAND MEDIAN PRICE vs NUMBER SOLD
350
$600,000
300
$500,000
250
$400,000
200
$300,000
Median Price
150
$200,000
100
$100,000
50
0
Number Sold 12
Month Period
$-
Sales numbers and overall demand increase has not been enough to change the land markets price direction. Price seems to be relatively stable but not on increasing path
seen wtih Residential and Condos. There is still a substantial general over supply.
PAGE 6
4/30/11
5/31/11
6/30/11
7/31/11
8/31/11
9/30/11
10/31/11
11/30/11
12/31/11
1/31/12
2/29/12
3/31/12
4/30/12
5/31/12
6/30/12
7/31/12
8/31/12
9/30/12
10/31/12
11/30/12
12/31/12
1/31/13
2/28/13
3/30/13
4/30/13
5/30/13

6. PAGE 6
SUMMARY TABLE OF PENDING RATIO TRENDS FOR NORTH KONA RESIDENTIAL, CONDO AND LAND , BIG ISLAND RESIDENTIAL AND
COLOR
GUIDE
FOR
MARKET
TYPE:
PEAK
KONA RES , CONDO, LND & BIG IS PENDING RATIO TRENDS
TABLE 6
1/31/2005
1/31/2006
1/31/2007
1/31/2008
1/31/2009
1/31/2010
1/31/2011
1/31/2012
2/29/2012
3/31/2012
4/30/2012
5/31/2012
6/30/2012
7/31/2012
8/31/2012
9/30/2012
10/31/2012
11/30/2012
12/31/2012
1/31/2013
KONA RES
101.97
39.15
18.92
17.15
9.17
20.65
37.6
36.19
44.36
47.01
47.76
KONA CND
180.36
25.8
11.06
6.30
5.18
21.67
25.64
34.66
31.64
34.83
43.45
KONA LND
78.18
30.71
8.59
4.87
5.08
5.14
5.7
4.28
5.56
5.64
5.95
51.72
53.7
52.09
50.23
57.55
60.30
62.25
53.62
53.5
43.37
38.46
41.72
44.93
35.66
37.16
32.89
6.19
14.22
12.50
15.38
7.41
10.17
10.99
9.09
58.54
44.22
12.12
Average
All Three
120.17
31.89
12.86
9.44
6.48
15.82
22.98
25.04
27.19
29.16
32.39
SELLERS
NEUTRAL BUYERS
KONA RESIDENTIAL PRICE RANGE PENDING RATIO'S
TO $400K $401K-$500K $501K-$700K$701K-$900K $901-$1.5M
$1.501M-$4.0M
Big Is RES
10.98
18.87
23.89
25.03
30.56
30.56
32.83
52.38
92.86
124.07
115.25
121.05
120.34
27.27
56.25
48.48
65.38
70.97
63.33
11.86
11.11
21.21
12.90
21.31
21.43
20.37
4.62
4.76
7.69
13.89
21.88
24.24
25
2.17
10.45
10.53
2.08
16.67
14.63
10.26
0
10.13
3.13
2.86
5.41
3.13
12.9
37.14
37.10
34.35
35.78
36.63
35.38
36.80
31.87
33.72
33.28
34.17
34.19
37.93
36.25
35.90
32.03
148
169.77
180.00
180.49
168.18
160.87
178.00
186.11
65.52
67.86
41.94
30.56
86.67
82.14
82.14
58.62
18.75
20.83
17.65
18.33
24.07
32.56
45.00
31.71
30
23.33
44.00
57.14
33.33
25.00
21.43
19.35
12
16.22
13.16
5.41
5.26
5.13
15.38
15.00
5.8
3.33
6.67
3.70
8.00
4.17
3.57
6.67
38.29
34.18
196.97
70.00
36.84
35.29
12.50
10.00
61.76%
27.58%
183.18%
52.91%
36.56%
58.76%
44.39%
185.58% 154.07% 500.96% 249.65%
TABLE # 6 - Higher Ratio = Stronger Market. BIG ISLAND PENDING RATIO CONTINUES TO STRENGTHEN AND IS AT NEW HIGH.
12' vs 13'
Year over Year improvement is substantial in all catagories except Kona Condos is only slightly improved from a year ago. Notice as
the recovery progresses the increasing Pending Ratios in Residential Price Ranges spreads to higher price levels. Three yea r ago all
price range colomns were pink with the exception for under $400,000.
CHART 6 - Kona Residential and Condo Pending Ratios for the past 12 Months
70.00
60.00
50.00
40.00
KONA RES
30.00
KONA CND
20.00
10.00
0.00
250.00
Chart 7 - North Kona Residential Pending Ratio by Price Range
200.00
TO $400K
150.00
$401K-$500K
$501K-$700K
100.00
$701K-$900K
$901-$1.5M
50.00
$1.501M-$4.0M
0.00
Chart 7 - As mentioned the year over year improvement is substantial.
fairly dramatically going forward?
The year end and first two weeks of the new year are fairly flat. We should expect this to change

7. PAGE 7
TABLE 1 - KONA & WEST COAST CITIES RESIDENTIAL INVENTORY - January 31, 2013
COUNTY
KONA
POPULATION 2010
Realtor.com - Market Area
Peak Inventory Date
Inventory PEAK
Inventory 12 months ago to date
CURRENT INVENTORY
% Change 12 m onths
% CHANGE FROM PEAK TO CURRENT
LA
VEGAS
SAN DIEGO
SAN FRAN
33,300
KONA
Mar-09
475
268
205
-23.51%
9.819M
LA
Aug-07
6875
3918
2124
-45.79%
1.95M
VEGAS
Oct-07
16423
13011
9903
-23.89%
3.095M
SAN DIEGO
Sep-07
4302
2240
1233
-44.96%
805,000
SAN FRAN
Oct-08
949
416
262
-37.02%
-56.84%
-69.11%
-39.70%
-71.34%
-72.39%
PORTLAND,O
2.260M
PORTLAND
Aug-08
5992
2658
1933
-27.28%
SANTA FE, NM
144,170
SANTA FE, NM
Aug-08
1797
1073
956
-10.90%
-67.74%
-46.80%
TABLE & CHART 1 COMMENTS: Declining inventory trend continues in Kona and all other market areas on the West Coast followe d in this report.
The inventory on the West Coast are showing the typical season decline couple by sharp Year over Year declines. Kona's i nventory decline is not at the pace of the CA metro's. San Diego and
San Francisco showing very sharp declines.
DQNEWS.COM comments below the Price chart indicate the Bay Area price appreciation greatest in 25 years at 20% Year over Yea r.
Data is residential listing inventory from REALTOR.COM
CHART 1 - Single Family Residential Inventory - KONA , SAN FRANCISCO, SAN DIEGO & L A
KONA
SAN FRAN
SAN DIEGO
LA
DATE
PRICE TREND COMMENTS: Each of the 20 cities in the Case Shiller study as of September shows price increase over the past 12 months.
* Kona home price data from Hawaii Information Service and is Median Price.
* San Diego , LA and San Francisco is a home price index from Case Shiller Home Price index.
CHART 2 - Three Year Price Trend for Kona, San Diego, Los Angeles and San Francisco
San Diego
LA
San Francisco
Kona Home Price
$400,000
200.00
180.00
160.00
$390,000
140.00
$380,000
120.00
100.00
$370,000
80.00
$360,000
60.00
$350,000
40.00
20.00
San Diego & L.A. Home Prices Index
KONA
$410,000
1
1
1
$340,000
0.00
Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13
CURRENT DQNEWS.COM HEADLINES RELATED TO CALIFORNIA MARKETS: SEE FULL STORY ON WEBSITE - DQNews.com
1) An estimated 39,760 new and resale houses and condos sold statewide last month, up 6.1 percent from 37,481 in November, and u p 5.4 percent from 37,734 sales in December 2011
2) The pace at which the Bay Area housing market is making up for lost ground quickened at the end of 2012 as sales increase d year-over-year for the 18th month in a row and the median price rose at its
fastest rate in more than 25 years. The market remained constrained by a tight supply of homes for sale and a fussy home loan environment interest
3) The number of Golden State homes sold for a million dollars or more rose to its highest level since 2007, fueled by a rec overing economy, rising home prices and a record number of cash purchases. The
number of homes sold for more than $5 million rose to an all -time high
4) The number of California homeowners pushed into the foreclosure process fell last quarter to the lowest level in six years, t he result of rising home values, an improving economy and a shift toward
short sales .
5)The number of California homes purchased with cash reached an all -time high last year, the result of high investor interest, a difficult mortgage environment, and perceived higher returns on
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1

8. PAGE 8
USEFUL WEBSITES:
A www. dqnews.com/ - Western metros sales data and trends.
B. www.housingtracker.net - Listing inventory and average list prices for 52 large cities.
C. www. nahb.org - National Association of Home Builders.
D.www.mbaa.org - Mortgage Bankers Association - loan activity and loan forecasts.
E. www.fhfa.gov - Federal Housing Finance Agency - GOVERNMENT DATA ON HOUSING MARKET
F. Google search - "Case-Shiller Home Price Indices"
G. www.realtytimes.com - Real Estate Agents perspective of local markets.
H. www.realtor.org - NAR - Select "News Media" and look for "Economic Housing Indicators".
I.
www.hawaii.gov/dbedt - Dept. of Business and Economic Development
J. www.federalreserve.gov
K. www.eia.doe.gov - Energy Information Agency - Oil and Gas prices and forecasts.
L. www.hawaii-county.com/info/stats.html - Hawaii County statistics. Updates monthly.
M. www.uhero.hawaii.edu/
Very good Hawaii State Economic reports
DATA TABULATED BY: MICHAEL B. GRIGGS, R, CRA, GRI , Clark Realty Corporation
THANK YOU FOR YOUR WORDS OF ENCOURAGEMENT, SUGGESTIONS AND COMMENTS THAT CONTINUE TO IMPROVE THE REPORTMike Griggs - mikegriggs@hawaiiantel.net cell ph. 808 936-8134
ALL HAWAII DATA HAS BEEN COLLECTED FROM MLS HAWAII, HAWAII INFORMATION SERVICE, REALTORS.COM AND OTHER SOURCES NAMED IN THE REPORT.
NOTES:
1) PAGE 1- TABLE 1 - RESIDENTIAL DATA COLLECTED IS LIMITED TO $4M AND UNDER PRICE RANGE IN ORDER TO SCREEN OUT RECENT HIGH END ACTIVITY AT KUKIO
AND HUALALAI RESORT AREA'S. SIMILARLY THE CONDO AND LAND DATA HAS AN UPPER LIMIT OF $1.5M.
2) NUMBER SOLD, AVERAGE PRICE AND MEDIAN PRICE IS DATA IS FROM A MOVING 12 MONTH PERIOD. UPDATED EVERY TWO WEEKS THIS I S A VERY ACCURATE METHOD OF TRACKING THE SALES
PRICE TRENDS.
3) THE PENDING RATIO MAYBE A GOOD LEADING INDICATOR OF MARKET STRENGTH AND PRICE DIRECTION. THE MARKET TYPE DESIGNATION, EG. SELLER, BUYER
MARKET, NEUTRAL AND PEAK IS BASED ON CALIBRATION IS USING PENDING RATIO DATA IN THE PAST MARKET CYCLE.
3) PAGE 1-TABLES 1 , 2 and 3 REPRESENTS THE ENTIRE NORTH KONA MARKET. IT SHOULD NOT BE CONSTRUED TO BE AN INDICATOR OF THE MARKET CONDITION IN
ALL SUBMARKETS WITHIN THE MARKET AREA OR FOR DIFFERENT MARKET AREAS ON THE ISLAND.
MICHAEL B. GRIGGS, RB AND CLARK REALTY CORPORATION ASSUMES NO RESPONSIBILITY FOR IT'S USE BY OTHERS.
OTHERS.
MAHALO!
YOUR ARE WELCOME TO SHARE THE REPORT WITH
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