The decline for single-family home sales was 7 percent to 251 transactions last month, down from 270 a year earlier. The median price slipped 2.2 percent to $591,000 from $604,500 in the same period. This was the fourth month in a row – and six out of the first seven months in 2011 that home sales have been lower than the same month last year. Even so, Hawaii still remains high on the list of the nation’s most improved housing prices.
The home prices on homebuyers on Oahu seem to be at a standoff, as the economy is continuing to fade and more and more people cannot afford to buy homes. This is especially true here in Hawaii, where prices are higher here than that of the rest of the nation.