Overall, sales volumes are down. We realize that. However, a closer look at the numbers show that certain categories and price ranges are down while others are up.
Below is CoreLogic’s breakdown of recent sales compared to last year by category. As we can see, distressed property sales are down while non-distressed property sales are up.
Now let’s look at NAR’s breakdown of recent sales by price point. As we can see, lower priced homes (distressed properties?) are down while every category over $250K increased.