Housing Recovery?

According to the latest breakdown of sales prices and sales volumes, it is clear that the entry level sales are strong in comparison to last year, but the "moving up" sector sales are in trouble:

• Houses Priced $0-$100,000 - Sales rose by 20.9%

• Houses Priced $100,000-$250,000 - Sales roseby 4.9%

• Houses Priced $250,000-$ 500,000 - Sales fellby 9.6%

• Houses Priced $750,000-$1 million - Sales fellby 22.5%


In my opinion these figures tell us people aren't moving "up" as they leave their lower priced homes. They are either moving to renting or back to mom & dad. Until the lower end begins to feed the higher end, overall sales figures are a bit deceiving and we have a ways to go.
These are the national numbers but the general trend is true here on Long Island as well. Bottom line is that competition amongst sellers above the $4000,000 mark here is fierce and you'd better be priced well in that sector to get your house sold.