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Report: More Higher End Homes Selling

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(Sacramento, CA)
Friday, December 7, 2012

The data come from Trendgraphix - a Sacramento-based real estate reporting company.

Last month, homes in the price range of $250,000 to $750,000 experienced a 36% increase in closed sales and a 34% increase in new open escrows compared to November of last year.

"The move-up market is really much more active than it was 6 to 12 months ago." 

Pat Shea is President and Chief Operating Officer of Lyon Real Estate in Sacramento.
"…people that previously experienced distressed sales that now have seasoned their credit and they're entering back into the market."
The new data also show a 33% annual decrease in the number of homes on the market and available for sale.
Shea says the low inventory of homes for sale and a steadily climbing average sale price are driving buyer confidence.
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