Different price ranges are going to move at different times and at different rates. Move-up buyers usually have more equity, and thus more incentive and more ability to ride out the rough patches. But that only goes so far because those homes are ultimately still competing with similar homes in other areas. All areas and all price ranges in this region are under assault right now. some have just been under the gun longer than others.
It’s just a matter of time. Before this cycle is over those high-dollar homes will come down just as much – percentage wise – as the entry level homes. Maybe even more.
