What Multimillion Dollar Homes Sales Mean for Us

Happy days are here again, at least for the sellers of multimillion dollar homes. After four solid years of penny-pinching, the rich are opening their pocket-books to buy real estate. Cash sales are on the rise. Sales of multimillion dollar homes and condos are up in all 20 major U.S. metro areas, some of which have seen double-digit increases in high-end home sales.

What's behind this buying spree?