Most of the housing boom has been in the lower priced market.

By
Mortgage and Lending with GITER DONE MTG

 

The other day Existing Home Sales were up over 7%. That is great news. But as I mentioned earlier in the week, the "recovery" is not impacting every segment in the same way, and wouldn't you agree, most of the housing price boom has been in the lower-priced home market. For example, sales of houses priced at less than $100,000 were up almost 39%. But sales of homes with a price tag of over $249,999 were actually down, and for anything more than $1 million sales estimates were down 26-29%.

Comments (2)

June Piper-Brandon
Houwzer Inc - Baltimore, MD
Piecing Dreams One Home at a Time

Dana,  yes, I agree the boom now is definitely in the lower priced market and first time home buyers just entering the market.  But, something has to be done to loosen up the mortgage market for some of these folks and make it easier for them to get a mortgage.

Aug 28, 2009 05:00 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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