Events This Week

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Park Maui Program

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Maui’s PARK MAUI program is set to introduce paid parking at popular beaches and small towns to reduce overcrowding and congestion. The Flowbird CWT Touch pay station will be used, and the pilot phase is scheduled to begin this summer at Ulua/Mokapu Beach Park in Wailea, Kamaole Beach Parks in Kihei, and areas of Lahaina and Wailuku town. The proposal includes affordable permits for employees to park in designated off-street parking and free parking for Maui County residents at Maui parks and beaches. Visitors will also have the option to purchase beach parking passes. We will keep you updated as more details are reported.

Monthly Indicators

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March 2023 Monthly Indicators:

  • Existing home sales increased 14.5% month-over-month, the largest gain since July 2020, due to contracts signed at the beginning of the year when mortgage rates dipped.
  • Pending sales improved for the third consecutive month.
  • New listings decreased significantly for both single-family and condominium homes.
  • Inventory increased for both single-family and condominium homes.
  • Median sales price increased for single-family homes but decreased for condominium homes.
  • Days on market increased for both single-family and condominium homes.
  • Months supply of inventory increased significantly for both single-family and condominium homes.
  • Limited inventory nationwide has put downward pressure on sales prices, and national home prices were lower year-over-year for the first time in over a decade.

FOR MORE INFORMATION REGARDING STATS CONTACT US AT:  dad@MauiRealEstate.net

Mortgage Rates Fall

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Mortgage rates fell this week, boosting the housing market’s recovery. The 30-year fixed-rate mortgage averaged 6.32% for the week ending March 30, according to Freddie Mac. As major housing indicators improve, borrowing costs are heading down. However, limited housing options will likely hinder some potential buyers this spring. Baby boomers, who own homes and have more wealth than younger generations, are now the top homebuying force in America.

Upcoming Weekly Events

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Week of April 9, 2023

Easter Sunday

Easter Egg Hunt Fairmont Kea Lani 8:00 am-8:30

Maui Golf & Sports Egg Hunt various times available to reserve