August 3rd, 2009 categories: Honolulu Real Estate 101
Today’s Wall Street Journal laments that the upper end of the real estate market is still slow. The recent good news of increased sales and, in some cases, prices is taking place in the low to moderate price ranges of a given market. I get the sense that the WSJ crew sees this as a negative, however, after having been through a few of these slumps we are seeing the exact cycle that says to me we may be recovering. In the past, entry-level sales pick up, then this increase translates to the mid-level markets and the last to take off is the upper priced properties.
“Housing is fast dividing into two markets: Sales of low- and moderately priced homes are picking up and values have stopped falling in some parts of the nation. But on the upper end, sales remain mired in a deep slump and price declines are expected to accelerate.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE
The following may explain this process.
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