Oahu Housing Median Prices Continued to Rise in September 2022

As mortgage rates continue to rise and concerns around inflation and the economy mount, the slowdown in the Oahu real estate market continued. However, this moderation is more of a return to typical market conditions than an indication of a falling housing market. Median single-family home and condo prices are still increasing year-over-year, but the rate of increase has slowed in the second half of this year. Flat prices are possible in the coming months as the market recalibrates from the 2021 surge.

While properties are taking a bit longer to sell and competition has fallen from its peak in 2021, the market is healthy, and the supply-demand balance continues to favor sellers. Demand for Oahu housing is so broad that the market will be less affected by higher borrowing costs or economic uncertainty than most other U.S. housing markets.