HONOLULU — Hawaii is unlikely to build the more than 50,000 new homes for sale and rental needed to meet demand over the next five years, a new study said.
The Hawaii Housing Planning Study found the imbalance in housing needs and construction, The Honolulu Star-Advertiser reported Thursday.
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Meeting future demand will require 10,000 new homes annually, although an annual average of under 2,000 new homes is likely, the report produced for the Hawaii Housing Finance Development Corp. said.
The analysis prepared by Honolulu-based SMS Research Marketing Services found the discrepancy between housing supply and demand improved from three years ago when a similar study projected the need for 60,000 new homes over five years.
SMS reduced its demand projection due to a decrease in Hawaii’s population in recent years, but the study issued earlier this month said the trend may not continue.
Home builders have produced
Article source: https://www.westhawaiitoday.com/2020/01/31/hawaii-news/demand-for-hawaii-housing-high-while-supply-remains-low/
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