Luxury home sales soar in Southland

According to the Los Angeles Times, sales of homes priced $2,000,000 and above are soaring to heights not seen since 2007.  In the recent quarter, 14% more houses in this range have sold since the same quarter last year.  A total of 1,413 homes have sold over $2,000,000 in the past 3 months in the Southland.

Selma Hepp, senior economist for the California Association of Realtors was quoted as saying “It reflects a housing market that is moving at two speeds.  Fast for the high end, sluggish for the rest.  It’s a completely different story between the two segments of the market.  Those who are doing well are doing really well.”

See the full story at http://www.latimes.com/business/la-fi-luxury-home-sales-20141124-story.html#page=1