Wednesday, June 2, 2010

Higher Priced Home Sales Making a Comeback


Markets around the country are reporting luxury home sales up so far this year. Homes selling over $2 million are more realistically priced now and the fear of 2009 had diminished some opening up this market. Homes in this price range nationwide in the first quarter totaled 2,461, up 32% over last year.


Although the number of units is not staggering, it's encouraging that this sector is improving, It shows buyer confidence returning in other areas than first time home buyers. The Wall Street Journal reported that sales in this price range were actually on par with 2005 levels. That year was the peak for existing home sales volume nationwide.


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