Oahu RE Median Price and Inventory levels
Rough Analysis:
Prices tested into near the 2005 level and found support, the trend is still down, forming a wedge. Typically a market direction will be decided soon on a move out of the wedge formation. We will have to wait and see.
Condos are not showing as nice a pattern as the SFHs.
Throw fundamentals into the chart patterns as you will, but for whatever reason, properties are finding buyers near the 05 median levels.
Inventory is showing some major volatility in a short span with the large increase and then the tapering off to near 06-08 levels. Interesting to note prices finding support near 05 levels, where inventory also was near its lowest point, showing some convergence.
