California’s most expensive homes have been the least affected of the Golden State’s real estate crisis.
From the LAT: Million-dollar-or-more home sales statewide surged in the second quarter to the highest level since the third quarter of 2007 as the economy and mortgage availability improved.
The year-over-year increase was nearly double the gain for the overall California housing market, according to San Diego-based DataQuick. Higher prices pushed some homes into the million-dollar-plus category, said DataQuick president John Walsh.
The 7,763 homes sold at $1 million or more from April to June represented an 18.5% increase from the same period last year. It was the most sales in this price range for a quarter since 2007, when 10,946 closings were recorded.