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Fear fuels Hamptons’ mid-range home sales

…”It’s been strong at the bottom and strong at the top, and now the middle is having its day,” said Jonathan Miller, president of Miller Samuel Inc., the appraisal firm that prepares the Elliman report. “Different segments react at different times.”…

…The huge jump in activity for mid-range houses was due to a confluence of two factors—concerns that interest rates could rise and that the low number of houses on the market would push prices up. Together, they released pent-up demand in buyers waiting to see the market reaction to this year’s fiscal-cliff standoff in Congress, Mr. Miller said….

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