Who’s buying homes? The rich!

The rich are buying real estate.  After four straight years of declines, sales of million-dollar homes and condos rose last year in all 20 major metro areas, according to DataQuick.  On average, these cities saw an 18.6% jump in high-end home sales.  “It hasn’t been a good six months for all people, but it was a good six months for rich people,” said Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin.  “When Wall Street goes up, rich people buy homes.”  Read article: http://money.cnn.com/2011/03/07/real_estate/million_dollar_homes/index.htm

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About dherries
Dave and Sally Herries and The RealtyColorado Team - Real Estate Broker serving the metro-Denver area. Offering properties in urban, sub-urban and rural areas. Our mission statement is "Enriching lives through real estate."

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