The summer homebuying season is here, and June is on track to be the hottest month of the year for Hawaii homebuyers and sellers.

Current market conditions are favorable for homebuyers, particularly for move-up buyers and investors.

More than half of Oahu's single-family home neighborhoods and condominium buildings have more available inventory than last year and a decrease in bid-ups. For home sellers, who may have faced a smaller buyer pool and longer days on market over the past several months, lower interest rates are welcome news, as more buyers may come back to the market. Median prices also rose in 66 percent of single-family neighborhoods and 60 percent of condo buildings, indicating demand is still strong.

With more homes and condos currently for sale than we've seen in years, and interest rates that are returning to last year's levels, now is an opportune time for first-time homeowners, current homeowners who are looking to trade up or real estate investors looking to diversify their portfolios.