All-cash, lux­ury-home sales ris­ing

The Palm Beach Post - Residences - - Residences Central -

High-priced homes have be­come strong sell­ers in to­day’s mar­ket. And many of these sales are all-cash trans­ac­tions. Af­ter four straight years of de­clines, sales of mil­lion-dol­lar homes and con­dos rose last year in all 20 ma­jor metropoli­tan ar­eas, ac­cord­ing to DataQuick In­for­ma­tion Sys­tems. On av­er­age, these cities saw an 18.6 per­cent jump in high-end­home sales.

San Jose, Calif., had the big­gest mar­ket for mil­lion-dol­lar homes, with a 27.4 per­cent spike in sales last year. Phoenix saw the small­est in­crease: just 0.4 per­cent, ac­cord­ing to a CNN Money re­port.

“It hasn’t been a good six months for all peo­ple dur­ing the last half of 2010, but it was a good six­months for rich peo­ple,” said Real­tor Glenn Kel­man in the re­port. “When Wall

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