Peter the statement is a regional statement and obviously does not qualify for mid and upper tier zip codes. One measure would be to compare them to last year. For instance we can look at 600k homes in Encinitas this year as opposed to last year, etc… see what I am saying?
Of course, yes the majority of sales is in the lower price ranges but I am not so certain that it is not like that most of the time regardless of the market conditions. If your point is that nobody at all is buying over 400k homes then no I don’t agree. If your point is, well is there a DRASTIC reduction of sales in Carmel Valley for 800k homes and up this year as opposed to last year then I would say lets look at the data. i tend to think yes there is a reduction and whether it is drastic is an unknown until we analyze the numbers.
