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

(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.

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)
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