The National Association of Realtors has released their report on first quarter home sales across the country. Here are some key findings:

Total state existing-home sales, including single-family and condo, were at a seasonally adjusted annual rate1 of 6.41 million units in the first quarter, down 6.6 percent from a 6.86 million-unit pace in the first quarter of 2006, but are 2.4 percent higher than the fourth quarter 2006 level of 6.26 million…The national median existing single-family home price was $212,300 in the first quarter, down 1.8 percent from a year ago when the median price was $216,100.  In the fourth quarter, the median price was reported to be 2.7 percent below a year earlier…In the West, the existing-home sales pace of 1.28 million units fell 11.9 percent from the first quarter of 2006…The median existing single-family home price in the West was $336,200 in the first quarter, down 1.8 percent from a year ago. 

Looks to us like moderately good news in that we may finally have begun to bottom out. Maybe. The importance of information like this to Maui property owners is that it tends to influence the mindset mainland visitors bring with them to Maui.

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