An interesting article posted on CNN Money states that according to the National Association of Realtors (NAR), sales of homes valued at $1 million or more spiked 51% in November compared with a year earlier. With the fiscal cliff approaching, high end buyers across the country felt a sense of urgency to close their transactions before the end of 2012. It will be interesting to see if this has an effect on the numbers for the first quarter of 2013, but with interest rates continuing to be at historic lows it is not likely.
To read the full article click here.
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