While the non-prime real estate market is in the dirt, high end U.S. home sales are doing well, according to an analyisis of nationwide home sales in July.
The national trend has gone largely unnoticed because the federal government and the National Association of Realtors - the main sources of housing data - don't report statistics for different price segments, The New York Times reported.
The newspaper and DataQuick Information Systems found that sales of homes in the to five percent (5%) of the market have been increasing in many cities, while saleshave fallen in the market's middle and bottom sectors.
Affluent families are getting richer and are spending their money, DataQuick analyst Andrew LePage said in the Times. In addition, foreign investors are buying large U.S. homes, the newspaper said
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