Iran War Puts a Pause on Hawaii’s Housing Market Recovery

Pending Home Sales Increased From February to March in the U.S.

Despite higher mortgage rates, pending home sales in the U.S. were up 1.5% in March from the prior month while recording a 1.1% year-over-year decline, according to the National Association of Realtors. On a monthly basis, pending home sales were up in the Northeast and South, while they declined in the Midwest and West. Year-over-year contract signings, however, were down in every region but the South. Realtor.com

‘Untouched’ Scottish Island Selling for £350,000

An island in Scotland will be sold at auction this week with a guide price of £350,000 (US$473,441). Insh Island last sold in 2019, when the National Trust for Scotland sold it for a reported £353,000. The National Trust acquired the island from the will of a man who reportedly lived in a cave for 30 years. Daily Record

Iran War Puts a Pause on Hawaii’s Housing Market Recovery

Hawaii’s housing market was set to be on the road to recovery this year, with local interest rates predicated to decline. However, the war with Iran has caused rates to shoot back up, diminishing buyer confidence. Hawaii’s high concentration of condos and second homes keeps Hawaii’s average mortgage rates slightly higher. Pacific Business News

Unlivable Waterfront Home Outside Melbourne Sells for A$2.38M

An unlivable property in Williamstown, Victoria—a suburb of Melbourne—has sold at auction for A$2.38 million (US$1.7 million), more than A$680,000 over its reserve price. Despite its rundown condition, the sale price isn’t surprising to most, as it’s one of the last opportunities to build on the waterfront. Domain