As rates are the highest since 2002 , there was still more home sales in March above $1 million than in three price ranges under $450,000.
According to the latest numbers available from the Southland Regional Association of Realtors, buyers bought 154 single-family homes costing more than $1 million.
There were 61 sales of homes costing between $350,000 and $450,000; 48 sales of homes priced between $250,000 and $350,000; and just 14 sales of housing costing under $250,000.
Most of the sales, 431, came in the $450,000 to $600,000 range.
The Daily News has said:
Economists and market watchers continue to point out that mortgage rates still look attractive historically. That’s true. But when your reference point is rates under 6 percent not too long ago, today’s level just means more cash out of pocket when paying the mortgage.