THE HEIGHT OF LUXURY
As the rest of the housing market struggles, the very high end is thriving.
The Dallas-based Institute for Luxury Home Marketing estimates that home sales at the $5 million-plus price range rose 11 percent in 2006, compared to a 8.4 percent decline in overall housing market sales. Between 1999 and 2005, the institute says, sales of homes for more than $1 million skyrocketed over 500 percent. Today, there are seven homes on the market priced at $100 million or more. In 2005, there was just one.
Granted, it is easy to have those stats with such few numbers, but it is an obvious change...