Luxury Real Estate Market Is On a Roll

The debate continues, is the real estate market picking up or not? Well, new statistics from NAR and the U.S. Department of Housing and Urban Development show that the luxury real estate market buyers have really gained back confidence and have began putting serious money down on properties.

Overall, exsiting homes priced at $1 million or more have seen a 17 percent increase in sales when comparing April 2012 to April 2011. The Miami market has seen a 16 percent increase in sales over the first quarter and New York's luxury market has seen a rise in condo purchasing.

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