The Office of Federal Housing Enterprise Oversight has released their first quarter results:

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In today's Wall Street Journal, Jeff Opdyke reviews a trend we are seeing happening on Maui:

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Morgan Stanley seems to think so. Today Richard Berner, Chief US Economist for the firm, wrote the following:

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This is not surprising. The S&P/Case-Shiller Home Index today reported a year-over-year decline in the sale prices in the first quarter for its ten-city and twenty-city index. Each index fell approximately 1% from a year earlier. In the markets that most affect Maui, San Diego was down 6%, San Fransisco was down 2.3% and Seattle was up 10%. For more information, contact us!

Separately, Uncle Willie K and Eric Gilliom are wonderful. Together as the Barefoot Natives they are rapidly becoming a Maui Treasure. Here they are at the Castle Theater singing Ku'u Home o Kahalu'u. Enjoy.

This week, penthouse unit 505 has once again gone into escrow. That three bedroom, 1958 square foot unit has had two price reductions and is now listed for $3.8 million. Penthouse unit 106 has been listed for $2.495 million. That unit is 1900 square feet and two bedrooms.

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Seriously folks, this is a real deal. 220 East Ikea Kai in Wailea Kialoa. A beautifully remodeled, one story, three bedroom, 2100 square foot home with a garden view. Very quiet and very private. This was originally listed for $2.3 million and is now at $1.65 million. Here are some pictures.

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In contrast to yesterday's robust new home sales figures, today's existing home sales were very, very soft:

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Significant economic news was reported today:

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The commercial real estate market is extremely tight at the moment. From a story in the Maui News:

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