When prices decrease a larger percentage of lower-priced homes sell. Low-priced may not mean the same thing as low-end in a environment of decreasing prices. I don't know whether to interpret this as useful information or a sophisticated way of implying that the sales mix is responsible for decreasing prices. Thats what the tinfoil hat is for. From Bob Truman's What's New:
Apr 23
There's a higher percentage of low-end homes selling this year. Here are the numbers compared to 2007:
Criteria: single family homes
Total Sales % Sold Under $425,000 % Sold Over $525,000
April 1-23, 2008 1059 51% 23%
April 1-30, 2007 2073 47% 24%
All other sales would be in the price range of $425,000 - $525,000.
