LUXURY SALES BOUNCE BACK IN OTHER PARTS OF THE CONTRY

According to the Wall Street Journal, " The Luxury Market appears to be making a comeback, driven by growing buyer confidence, improved financing conditions and more realistic seller pricing. Despite the housing downturn, attractively priced homes in some of the nation's most coveted neighborhoods are selling, sometimes fast and sometimes with multiple offers. The sales are up from last year shouldn't come as a big surprise. The shock of the financial panic in the fall of 2008 left many potential buyers too nervous to bid., and those who were willing to bid found it hard to obtain financing. But a study for The Wall Street Journal by MDA DataQuick, a real estate data provider, found that in some areas of the country, sales of homes over $2 million in the first quarter were actually on par with the levels of 2005, the peak year for existing home sales nationwide".  This is good news! Arizona lags behind other parts of the country, but will follow suit. It's just a matter of time.