The Warren Group reported that single-family home sales inched up 2 percent in August compared to the prior year. August was the second straight month that sales volume increased in Massachusetts.
Here’s what’s not in the report: while sales of lower-priced single-family homes helped to prop up the overall numbers, higher-end home sales are dragging.
Single-family homes priced $200,000 to $400,000 shot up almost 10 percent compared to the same months in 2008.
In contrast, homes priced $800,000 and higher tumbled 11 percent.
But here’s the big question. If sales volume continues to climb in the lower-end of the real estate market do you think it will trickle up to more upscale home sales?
Source: Warren Group/B&T