Wednesday, March 28, 2012
MILLION DOLLAR HOUSING MARKET SMALL BUT BRISK
The Realtors' Research Division of the National Association of Realtors reports that last year 68,200 residential transactions closed at $1MM or more, about 1.6% of all home sales in 2011.
The $500,000 and above market segment represented 10% of all home sales.
While luxury homes are a small niche, they are generally outperforming the market.