MORE HOMES SELLING FOR 1 MILLION-PLUS

The shift was noticeable--- million dollar sales have been booming relative to the rest of the market.  This partially explains the rise in the median price of homes.  Remember, median is not the average, but rather half--half the homes sold above this mark and half sold below it.  A higher number of homes over a million, will raise that mark.  It's important to understand this distinguishment because it dispels the myth that we are in another bubble.  We are not in another bubble.  Already established by many economists is the belief that this slow down in the number of sales, coupled with growing inventory is a more "normal" market.  But conversely, million dollar sales have sped up.  In fact, sales of homes for $1 million and up rose 11.5% year over year in O.C.  This at a time when overall sales have declined over 8%.  This offers an explanation into numbers that seem contrary to what market analysts proclaim.