A Growing Demand in Middle-Priced Homes

Middle-priced homes are the buzz among builders. Amid a widening housing market slowdown, developers are starting to target the one area where demand remains strong.

Private developers are starting to shift gears from selling the lofty dreams and lavish lifestyles of expensive condominiums to the more mundane -- but still lucrative, some say -- task of delivering middle-income housing.

The new race to the middle is nationwide, and it comes largely because home prices have risen far faster than wages in recent years, creating large numbers of professionals and middle-income earners who are priced out. Some developers say the volume of demand will make up for somewhat lower profits.