This graph shows the sale of homes during the fourth quarter of 2007 through 2010. The height of the bars represent percentages of total sales. The graph provides compelling evidence for the increased sales of less expensive homes, and the decreased sales of more expensive homes in Bellingham during the past 4 years. For example, in 2007, 17% of all homes sales were $500,000 and above; 50% of all home sales were below $300,000. In sharp contrast in 2010, 8% of all homes sales were $500,000 and above; 72% of all home sales were below $300,000.

 

This trend is partly attributable to the decrease in the price of homes--there are more homes priced below $300,000 than there were in 2007, home prices have dropped considerably since 2007. However, this trend is also attributable to the fact that people are buying less expensive homes, and not buying more expensive homes.