Reports of the Upper Bracket housing market’s death are greatly exaggerated.
Mark Twain uttered a similar refrain when the New York Journal published his obituary a bit prematurely. It seems that the same has been done for the upper bracket housing market in a recent Star Tribune article titled “Buyer’s Market” (October 28, 2010). Click here
It is true that this is a buyer’s market. Yes, home sellers have been reducing list prices. Yet the upper bracket segment of the market is faring better than the rest of the market.
The Minneapolis Area Association of Realtors recently published statistics comparing the periods October 2008-September 2009 with October 2009-September 2010. This report offers the first chance to see how the housing market…