Cheap Homes Selling Fast, Expensive Homes Not

Submitted by Rich Toscano on November 20, 2008 - 10:22pm

Home sales have increased dramatically in recent months, but that brisk activity is far from uniform. While cheap homes are positively flying off the shelves, sales have actually slowed in many of the more expensive markets.

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Does anyone have the standing
Submitted by Russell on November 21, 2008 - 8:50am.

Does anyone have the standing inventory numbers handy for yoy comparison, for these zips and the timeframes for the data Rich has posted?
Thanks
BTW, It is good to be talkng about real estate again, get over here ;).

I'm probably begging the
Submitted by jpinpb on November 21, 2008 - 9:13am.

I'm probably begging the question, but if the cheap homes are selling fast and expensive homes not, eventually if the expensive homes want to/have to sell, won't they have to make it cheaper and then consequently sell?

Would be fascinating to see a
Submitted by sdduuuude on November 21, 2008 - 9:29am.

Would be fascinating to see a color-coded map of these zip codes.

Notice how nearly all the zips in the top chart are further away from the center/coast. Those in the lower chart are more central and westerly.

I am hearing this same
Submitted by peterb on November 23, 2008 - 10:28am.

I am hearing this same information out in the market around most of the state. Low-end is busy with first time buyers, and investors wanting to rent for more than the PITI. Some flippers in there as well.