Sales of Pricey Homes Surge
And median home price is going up
By Evann Gastaldo, Newser Staff
Posted Dec 20, 2012 2:14 PM CST
Roni Boyles and Jonathan Ranford of Coldwell Banker Real Estate walk to the front door of the mansion they are listing on the harbor in Cohasset, Mass., Tuesday, May 11, 2010.   (AP Photo/Charles Krupa)

(Newser) – Another sign of economic recovery? Sales of higher-end homes—those priced above $750,000—were up 50% in November from a year prior, CNBC reports. Meanwhile, sales of the lowest-end homes fell 4%. The two factors pushed the median home price across the nation to $180,600, up about 10% over last November. The reason? More people are buying homes to live in, while fewer people are buying distressed homes as investments.

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Showing 3 of 10 comments
Imhotep
Dec 21, 2012 7:37 AM CST
Where's the part about how their being bought by Chinese investors ?
Seth_Meyers
Dec 20, 2012 8:25 PM CST
The rich know that Speaker Bonehead and other republicons are working hard to protect them and help them continue to STEAL from the poor and middle class to have even more riches for themselves.
toomanycars
Dec 20, 2012 5:38 PM CST
Higher taxes start in 2013 so people are buying what they can in 2012. Part of Obamacare is that starting in 2013, all real estate sales will have an additional 3.5 tax imposed on the home sale. This is additional to the regular taxes that someone would pay after they buy their house. Its all in Obamacare. Didn't you read it? .