Gary's Blog

Thursday, April 29, 2010

Maui Visitor Arrivals Up!

Maui LEADS the state with visitor arrivals, up 14.2% in March from a year ago. Expenditures were up by 12.7% for the same month, the largest increase since April 2006. Maui also had the most visitor per day spending in March, a 9.4% increase from a year ago.

This is great news for real estate owners on Maui.

Consumer Confidence is growing nationwide, which helps us here in the Maui real estate industry. The best consumer confidence reading since '08's financial meltdown occurred last month. The Consumer Confidence Index rose in April to 57.9, according to the Conference Board, a private research group based in New York. That is up from 52.3 in March.

Home sales are up nationwide, the strongest month since last July and the biggest monthly increase in 47 years! These statistics are likely to tell people "get out there and buy now, the market won't ever be better than it is now, if you like to buy low".

The International Monetary Fund see 4.2% global growth for 2010. Again, if you own real estate in Maui, and don't need to sell, take it off the market! Maui real estate is such a bargain right now, only serious buyers need apply. This is what those with cash have been waiting for. And we are seeing homes and condos sell like we haven't seen for years.

Maui just sold the most expensive single family home on Maui in the history of the world! Jennifer Anniston just paid $19.9 million for a gorgeous home in Makena, closed last week.

More national news that is encouraging, unemployment fell in 69% of the largest metro areas last month. Employers added 162,000 obs in March, the government said earlier this month, the most significant gain in three years.

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