Why It's Still Safe at Home

So far, dropping mortgage rates are offsetting swooning markets and talk of layoffs, leaving residential real estate sales strong

Think you may be able to pick up an affordable mansion in Greenwich, Conn., now that the stock market has swooned? Certainly not yet. The average home sold in that affluent suburb -- home to many in the Wall Street crowd -- has gone for a staggering $1.95 million so far this year. That's up a bit from last year. "Prices have held up beautifully," says Patricia Barry, manager of the Greenwich office for William Pitt Real Estate. "People know they have a great investment in property in Greenwich, especially in light of the downturn on Wall Street."

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