MID – HIGH END GROWTH RISING AS INVENTORY SQUEEZE BELOW $500,000 (75% of SALES) PUSHES CONFIDENT BUYERS TO UPGRADE.
Sales in 2015 are up 36% over the first 12 weeks of last year; 80 sales to date. Overall inventory is moving up with 248 homes listed. A larger inventory is needed for growth.
The breaking news is sales in the Woods, $500,000 to $1.5 million. It has been a long and difficult wait – since the bubble burst – to see jumbo loans and strong consumer confidence take hold. Lenders are loosening terms, appraisals and smiling at borrowers.