HONOLULU (HawaiiNewsNow) - Hawaii is known for it's expensive real estate, and real estate affordability is an important topic to understand when it comes to purchasing and buying a home.
Real estate affordability centers around the process of purchasing or selling a home, and what it means for buyers and sellers with the current interest rates, low inventory, and continuing demand.
According to Prudential Locations, one theory of why the housing inventory in Hawaii is so low is homeowners wait to list their home, thinking they will make a higher profit. However, if they wait too long, their qualified buyer pool may shrink due to rising interest rates.
Executive Vice President of Sales from Prudential Locations Scott Higashi joined Howard Dicus on Sunrise this morning to tell us more.