DolceTracker| America’s luxury housing market appears to be bouncing back to life. In some parts of the country, sales of homes over $2 million equal 2005 levels, the peak year of existing-home sales in the nation. The crisis is far from over.
Miami-Dade County still has enough homes priced at $2 million or more to last 41 months at the current sales pace, though down from 116 months a year earlier, says Ron Shuffield, president of EWM Realtors, a large local brokerage. via WSJ
The market remains fragile and could be derailed quickly by another slump in the stock market. For the moment, the news is promising in terms of stabilizing the high end of the real estate market.