Modest growth for 2012 is the key takeaway from a study issued today by University of Hawaii economists.
Regarding housing prices, Maui condominium prices were down compared to 2010, with a $325,000 median price in July. That's about 16.7 percent less than the $390,000 price for the same month a year earlier.
Homes too suffered a decline in price in July, with the median price of $410,000 down from last July's $500,000.
It has been reported that almost 40% of all home sales in the 2nd quarter of 2011 were foreclosures.