Homes for $1 million or more on rise
From Times wire reports
With rapid appreciation driving home prices ever higher, sales of million-dollar homes in California set a new record in the second quarter.
During the April-to-June period, 4,847 homes sold for $1 million or more, up 55.8% from 3,111 for the prior quarter and 15.5% above 4,195 in the second quarter last year, according to DataQuick Information Systems.
Sales in Southern California were up 29.2% from 2,203 a year ago to 2,846. Bay Area sales fell 3.5% from 1,776 to 1,714.
The National Assn. of Home Builders’ analysis of 2000 Census data showed that 41% of the nation’s homes valued at $1 million or more are in California.
