California Million-Dollar Home Sales Hit An All Time High
At the end of April, we showed that the California housing market is getting just a "little frothy" again, when in the span of a few days a simple 2-bedroom house sold for 40% above asking. Now, according to a recent analysis by CoreLogic it appears that this was not a one-off event, because as many Californians struggled to gain a foothold in homeownership early this year, they were hindered as a surging stock market and other forces lifted sales of $1 million-plus homes to the highest level ever for a first quarter.