There is a serious lack of inventory of homes for sale and this will continue to drive prices up if the mortgage rates remain steady.
Here is the link to the full report with all the graphs: August 2016 Real Estate Statistics
The National Association of Realtors published this list of "This Month's 20 Hottest Housing Markets" for August and Honolulu is not on that list. I can't imagine how difficult it must be to compete to buy a home in one of those markets. If you are looking for investment property in one of those cities, perhaps you may want to consider what might be available in Honolulu.
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listings in the HomeSpotter App.