Well, not really, but it is an interesting occurence nonetheless:
The Multimillion $ Market is Still Hot, Hot, Hot(May 22, 2006) --
Despite a cooling real estate market, one segment that remains red hot is the multimillion-dollar market.
In San Francisco, 18 homes in that range sold in the first quarter, up from 15 in the same period last year, a DataQuick analysis shows.
In Palm Beach, Fla., 10 homes sold for $5 million or more in the first quarter, up from eight last year. And in Jackson, Wyo., 21 homes, up from 17, sold for more than $3 million, according to Jackson Hole Real Estate and Appraisal.
Mark Zandi, chief economist at forecasting firm Moody's Economy.com, says the segment of high-end buyers "won't be immune from the unfolding travails of the rest of the market, but it will weather those difficulties much better than it has historically."
Source: The Wall Street Journal, Troy McMullen (05/19/2006)
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