By Nicole Friedman (Wall street Journal)
The pandemic is revving up the market for expensive homes where many people are spending far more time, luring richer buyers and nudging more sales over the half-million dollar mark from northern California to the New York City suburbs.
Nearly one in four home buyers between April and June bought houses priced at $500,000 or more, up from 14% of buyers during the preceding nine months, according to a Wednesday report from the National Association of Realtors.
Home buyers during 
the coronavirus pandemic had a median household income of $110,800, compared with $94,400 for pre-pandemic buyers, the survey showed.
“The buyers who purchase during Covid[-19] want a larger home,” said Jessica Lautz, vice president of demographics and behavioral insights at NAR. “There’s certainly more homes being purchased that are expensive.”
The pandemic has caused the economy to sputter and businesses to close, a condition usually associated with slower home sales and lower home prices Read the complete article.
