thegardenisland.com
THE GARDEN ISLAND
Friday, December 23, 2022 • B3
U.S. HOME SALES FELL IN NOVEMBER creased apartment building construction should lead to a pullback in rents, which will help lower a key inflaLOS ANGELES — The housing market slump deeption barometer. That could pave the way for the Fed to ened in November, as sales ease up on its campaign to of previously occupied U.S. hike rates, which “should homes slowed for the tenth moderate mortgage rates.” consecutive month — the “And if that’s the case, I longest such stretch on rethink the housing market cords going back to 1999. will see some steady reExisting home sales fell 7.7 percent last month from bound in terms of sales acOctober to a seasonally adtivity,” Yun said. On average, homes sold in justed annual rate of 4.09 just 24 days of hitting the million, the National Associmarket last month, up from ation of Realtors said 21 days in October, the NAR Wednesday. That’s a slower said. sales pace than what econoThat’s still a relatively mists had expected, accordquick turnaround, as before ing to FactSet. the pandemic homes typiSales plunged 35.4 percent from November last cally sold more than 30 days year. Excluding the steep after being listed for sale. sales downturn that ocThe inventory of homes on the market declined for curred in May 2020 at the the fourth consecutive start of the pandemic, sales month. Some 1.14 million are now at the slowest anTED SHAFFREY / ASSOCIATED PRESS FILE homes were on the market nual pace since November by the end of November. 2010, when the housing marA “For Sale” sign stands in front of a house in Rochester, New York, on Jan. 17, 2022. That amounts to a 3.3 ket was mired in the afterfewer buyers and fewer months’ supply at the cur6.31 percent, more than dou- early November. math of the foreclosure cent to 5.25 percent by the transactions, yet due to the ble the 3.12 percent average Mortgage rates are likely crisis of the late 2000s. end of 2023. rent sales pace. In a more limited supply some multiStill, home prices continWhile mortgage rates rate a year earlier, according to remain a significant hurbalanced market between ued to rise last month, ple offers are still happening to mortgage buyer Freddie dle for some time as the Fed- don’t necessarily mirror the buyers and sellers, there is a Fed’s rate increases, they Mac. five- to six-month supply. though at a far smaller rate and homes are still selling eral Reserve has tend to track the yield on That increase can add The combination of than just a few months ago. reasonably fast,” Yun said. consistently signaled its inthe 10-year Treasury note. higher mortgage rates and The national median home November’s housing snap- hundreds of dollars to tent to keep raising shortrising prices continue to sales price rose 3.5 percent term rates in a bid to squash The yield is influenced by a shot is the latest evidence of monthly mortgage payvariety of factors, including keep many first-time buyers in November from a year a deepening rut from what ments and also can discour- the hottest inflation in deexpectations for future infla- on the sidelines. They repreearlier, to $370,700. was a blistering sales pace age homeowners who cades. Nearly a quarter of homes at the start of the year, when locked in a far lower rate the The federal funds rate tion and global demand for sented 28 percent of sales that sold last month fetched mortgage rates hovered last couple of years from now stands at a range of 4.25 U.S. Treasurys. last month, unchanged from more than their asking price, near historic lows. buying a new home. percent to 4.5 percent, the Yun is forecasting that the October, the NAR said. By said Lawrence Yun, the The average rate on a 30Though they’ve dehighest level in 15 years. Fed average rate on a 30-year historical standards, firstNAR’s chief economist. year mortgage was slightly policymakers have forecast mortgage may fall to around time buyers typically made clined in recent weeks, “We have this strange above 3 percent in early Jan- mortgage rates averaged that the central bank’s rate 5.5 percent by next spring or up as much as 40 percent or market where there are summer. His rationale: Inmore of transactions. 7.08 percent as recently as will reach a range of 5 peruary. Last week, it was at Alex Veiga ASSOCIATED PRESS
Celebrate this holiday season Celebrate With a 1% rate discount On a personal loan this holiday * APR
season with a Celebrate this holiday sea 1% rate discount With a 1% rate discount onaCelebrate apersonal personal loan On loan this holiday
Apply online www.kauaicreditunion.org Average long-term mortgage rate falls for a 6th straight week ASSOCIATED PRESS
APR
WASHINGTON — The average long-term U.S. mortgage rate declined for the sixth straight week, giving potential homebuyers a tiny amount of relief after rates topped out over 7 percent last month. Mortgage buyer Freddie Mac reported Thursday that the average * APR=Annual Percentage Rate. Federally insured by NCUA. Advertised rate based on the benchmark 30-year rate scores of 750+ and a 12-month lending period. Rates are subject to change on credit dipped to 6.27 percent this week from 6.31 percent last week. A year ago the average rate was 3.05 percent. The average long-term rate reached 7.08 percent in late October and again in early November as the Federal Reserve has continued to crank up its key lending rate this year in an effort to cool the economy and tame inflation. Mortgage rates are still more than double what they were a year ago, mirroring a sharp rise in the yield on the 10-year Treasury note. The yield is mostly influenced by global demand for U.S. Treasurys and investor expectations for future inflation, which heighten the prospect of rising interest rates overall. The Federal Reserve raised its * APR=Annual Percentage Rate. Federally insured by NCUA. Advertised rate based rate again last week by 0.50 percentage points, its seventh inon credit scores of 750+ and a 12-month lending period. Rates are subject to change crease this year. That pushed the central bank’s key rate to a range of 4.25 percent to 4.5 percent, its highest level in 15 years. More surprisingly, the policymakers forecast their key shortterm rate will reach a range of 5 percent to 5.25 percent by the end of 2023. That suggests the Fed is poised to raise its rate by an addi* APR=Annual Percentage Rate. Federally insured by NCUA. Advertised rate based tional three-quarters of a point and on credit scores of 750+ and a 12-month lending period. Rates are subject to change leave it there.
* APR
Apply online www.kauaicreditunion.org * APR
With a 1% rate disco On a personal loan Apply online www.kauaicreditunion.org
Page 4 Friday, December 23, 2022
THE GARDEN ISLAND
Lihue
MERCHAN DISE
Omao
Poipu
FORRecycled ASAppliances LITTLELihue AS- $1,450,000
9.99
$
Washers, Dryers, Stoves & Refrigerators $250+ 6 months warranty. Tashi 808-652-0551
5Bed / 5.01Ba Interior size: 3027 sq. ft. Land Size: 9,174 sq. ft. MLS 663176 Charissa Riofta RS-82661 808-639-3752
A WEEK
ON ALL MERCHANDISE ADS* *Restrictions may apply. Call for details.
Business Hours Call CenterStay
Monday–Friday; 7:30 a.m.–5:30 p.m. Informed Subscribe today
WE GLADLY ACCEPT:
245-0433
thegardenisland.com
Lihue
Pets
Omao
OMAO - $780,000 3 BED/2 BATH 1,531 sqft Interior 8,059 sqft Land Melinda B. Yomen 808-482-0452 MLS 655642
AKC Labrador Retriever Puppies with Papers. $1,700/OBO.Call or email for info. 808-335-2808 kauai8888@gmail.com
from publication errors or omissions of an ad. Advertising rate thegardenisland.com Our full-time employees generous benefit package that Cancellation/Correction Deadlines: To cancel or change Check are available from any salesincludes: executive. Ads are subject your ad for errors the first day itenjoy runs inathe paper. cards an ad in the Garden Island, call us by 4:45pm on Monday, Medical, We are unable to issue credit for errors reported401K after the to the rate effect atand the time theyvacation. are placed. Dental, Company-Matched as well as card sickinleave paid Tuesday, Wednesday, and Thursday for the following day, first day of publication. While we try to accommodate our
Wailua
UKC Reg American Pitbull Terrier Pups Red Nose Reds Shots & Dewormed. $1000+ OBO (808)554-1150
POIPU - $2,500,000 4 BED/3 BATH 1,619 sqft Interior 10,439 sqft Land Ann Zaslow RS-82535 808-639-3675 MLS 666088
IN ESCROW
LIHUE - $1,749,000 3 BED/3 BATH 2,803 sqft Interior 10,319 sqft Land Lauren Yama RS-84751 808-346-4204 Eric Yama 808-639-3414 MLS 664704
POIPU - $964,000 2 BED/2 BATH 1,094 sqft Interior Mark Tanaka RB-9222 808-639-0367 Ashley Carvalho 808-639-9307 MLS 666363
OMAO - $995,000 3 BED/2 BATH 1,182 sqft Interior 6,098 sqft Land Glen Kojima RS-80593 808-651-5850 MLS 666175
SALES Account Executive
We are looking for the right candidate to call on new and current customers and market our numerous advertising solutions to grow our customer’s business. This person will prospect new business and grow the current account base. Comfort with cold-calling is a must. He/she will be able to represent numerous newspapers, magazines, website and digital products, be able to match those products to the customer’s needs and make sales presentations to key decision makers. A high school diploma is required. A Poipu Bachelor’s degree in marketing or business is preferred. An aptitude for understanding Deadlines: noon on Friday for Sunday and Monday. (We are closed advertisers, The Garden Island does reserve the right to edit, Subscribe information and basic computer skills are necessary. He/she also must Regular, single-column classifieds in The Garden Island canstatistical Saturdays and Sundays). refuse, reject, or cancel any ad at any time. All ads are subject today ESCROW be INplaced until 4:45pm on Monday, Tuesday, Wednesday,possess excellent verbal and written communication to approval priorand to publication. We successfully are not liable for losses skills be able to and Thursday for the following day, noon on Friday for Sundaymulti-task. or expenses resultingcompany from publication or omission of The Garden Island Estate To place, correct 245-0433 If youReal want a Deadlines: career with a fast paced, top media witherrors excellent and Monday. Please call your sales executive or 246-0325 for or cancel a Friday real estate/rental single-column ad, please an ad at any time. All ads are subject to approval prior to pay and benefits, we want to hear from you. deadlines for larger, multi-column ads. call by noon on Thursday. publication. We are not liable for losses or expenses resulting
IN ESCROW
Penbroke Welsh Corgis puppies AKC papers 3 males Available 12/20/22 1st shots & dewormed. $3,500/each. Naalehua 831-566-8622
MERCHAN DISE
ANNOUNCE MENTS
IN ESCROW
General YOUR Appliances STUFF SELL B U I L D I N G MAINTENANCE HELPER Willing to train if you lack the skills. Job requires some cleaning. The position pays $20-$23/hr depending on experience, plus benefits. Please email your resume to hvpmanager@ hawaiiantel.net or call 808-720-1610
www.thegardenisland.com
Stay Informed Subscribe today
Send a cover letter and resume to: 500 Ala Moana Blvd Ste 7-500 Honolulu, HI 96813 or email rstolar@staradvertiser.com We are an equal opportunity, affirmative action employer. We recognize and appreciate the benefits of diversity in the workplace. People who share this belief or reflect a diverse background are encouraged to apply.
WAILUA - $788,000 2 BED/2 BATH 640 sqft Interior 10,953 sqft Land Carol Cummings RB-14915 808-651-4766 MLS 666138
Subscribe today thegardenisland.com
245-0433
thegardenisland.com
KAUAI’S
245-0433
real estate directory
246-0325 PLACE YOUR AD today 246-0325 the gardenisland.com/classifieds
Mele Kalikimaka & Hau‘oli Makahiki Hou
808-822-3100
www.kauailandmark.com
Larry Fudge RB-18519 808-635-1111
IN ESCROW!
Diane A. Pavao RS-58020 808-651-3557
WAILUA
Land Area: 15,011 sf Living Area: 1,377 sf Bed/Bath: 3/2 MLS 666755 Price: $819,000
KAUAI REALTY
LIHUE $799,999 3bed/1.5ba Interior: 1,328 sqft MLS 666107 Mark K. Tanaka, RB-9222 mark@marktanaka.com 808-639-0367 Ashley M. Carvalho, RS-73535 ashley@ashleycarvalho.com 808-639-9307
Flexible floorplan makes this a “must-see”!
AROL C. CUMMINGS RB-14915 (RB) CRB, CRS, GRI, SFR
FULLY FENCED 3 Bedroom, 1.5 Bath home located in the Komohana Subdivision in Puhi. This single level wood frame home features a large recreational room, tile floor throughout, solar hot water heater and a 15 panel photovoltaic system. The property is on a flag lot at the end of the cul-de-sac. The spacious level yard is perfect for outdoor enjoyment and the large avocado tree provides lots of delicious fruit!
808-651-4766
kauairealty@gmail.com
PRATT & LAMBERT PAINTS
PITTSBURG PAINTS
Custom Color Matching • ProLuxe Wood Finishes • Purdy Brushes • Graco Sprayers Home Owner • Maintenance • Commercial • Industrial
(808) 246-8828 Across From Kauai Community College
4490 Puhi Road, Lihue Mon-Fri 7:30am to 4pm Sat 8am to 12 Noon
Stay Informed
Certified Inspector Joseph Quentin
Your locally owned paint store. Serving the people of Kauai for over 29 years!
We make your next home inspection a breeze
www.quentinllc.com (808) 855-5280
BBB Rating: A+ As of 9/30/2020
Subscribe today
245-0433
thegardenisland.com