Silicon Valley Sees Rise in $1-Million Home Sales

The number of homes sold for more than $1 million in Silicon Valley exceeded 40 for the second week in a row, the first time that has happened since 2000.

This week, 46 homes sold for more than $1 million in Santa Clara County, up from 33 in the same period last year, according to Coldwell Banker Northern California. Last week, 41 homes sold for more than $1 million in the area that includes Palo Alto, Los Gatos, Mountain View and San Jose.

Brokers credit the increase in sales to a rebound in consumer confidence and signs that the economy may be recovering.