Independent UK - The Wall Street Journal reports that about one in 10 homes across the country has a value of $1m. The increase is due to record high home prices in the US. In June, the median home sale rose to $442,525, according to brokerage Redfin.
The price of luxury homes, considered to be the top 5 per cent of listings, hit a new high of $1.18m during the second quarter, the outlet reported. Some of the most expensive real estate is in California’s San Francisco Bay Area. San Francisco has the highest number of $1m homes in the country.
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