February

HONOLULU--The Honolulu Board of REALTORS® today released its resale figures for the month of February. According to the analysis conducted by the Board's Research Department, using data from the computerized Multiple Listing Service system, the statistics were:

She continued, "The single family home resale counts in the first two months of the year reflect the seasonal slow down we've come to expect for contracts which were written in December. Comparing the first two months of the year, we're still more than 33% ahead of the same period last year. A review of new sales contract resale numbers gives us every indication that the number of resales will remain, at least for the next couple of months, well above those of a year ago."

REALTOR® Marn also stated, "The public is encouraged to visit the Board's Internet web site, Hawaii Real Estate Central, at http://www.hbr.com to see what's happening in the housing market. We've provided the public with the ability to search through our current inventory of single family home and condominium listings available for sale on Oahu, as well as those homes that will be open to visit this Sunday. Searches can be done by geographic location, price range or both. In addition, there is a lot of useful information about buying and selling real estate in Hawaii."

The Honolulu Board of REALTORS® is in its 76th year of service to Oahu and is one of the largest of 1,600 boards of REALTORS® in the nation. It is also the largest trade organization on Oahu. Membership, which numbers approximately 4,000, is available to licensed real estate brokers and agents who agree to adhere to a strict Code of Ethics.

(This report reflects information about resales of existing properties only and does not include new home sales. All of the MLS information is compiled from sales reported during the cited months; this data is known only after closing of escrow. The time delay between the signing of a sales contract and the closing of escrow is usually between two and four months.)