This subscriber only article at The Wall Street Journal reports that the recovery to date in the U.S. housing market has been focused on the low end of the market. If you have a high end home it is still hard to sell. This is what was reported in The Huntsville Times as well about the local market. There has been an uptick but it has only been in the low-to-moderate price.
Unfortunately I cannot find the article on their website www.al.com.
It is probably for the reasons that large mortgages are hard to get and people do not want to borrow several hundred thousand dollars anyway with the uncertainty in the job market and economy overall.