2012 Growth "Modest"

Aloha Kakou:

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.

http://mauinews.com/page/content.detail/id/553032/UH-economists-say--recovery-has-slowed--but-not-stopped-.html?nav=10