Where are the Buyers with Money

The Piedmont Regional Association of Realtors, MLS for the counties surrounding York County, SC has just reported that residential, sold homes in 2008 thru August is as follows:

                  Price Range                  Number Sold               %

           $100,000 to $300,000             2141                     80%

           $300,000 to $500,000               386                     14%

                 $500,000+                             169                       6%

                 Total Sold                             2694

The result's begs to ask "Where are the buyers with money?" Apparently they are not purchasing expensive homes.

With many builders sitting on inventory of home over 300,000 dollars, will they be in business next year? Why are home owners deciding to keep their present home instead of moving up? Is everyone waiting until after the election, or the housing market to hit bottom, or for the economy to improve?

 Realtors are going to have to analyze these, and many other questions to adjust their methods, and change their marketing strategies, or get out of real estate. There are great opportunities for those who can make the change.