Altos: Critics wrong about housing, it’s going to soar

Altos: Critics wrong about housing, it’s going to soar

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Luxury home sales finished the year strong

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A high-earner would pay $88,000 less in taxes if they made a $1 million profit on their home in 2012 rather than in 2013. That considerable tax savings motivated many wealthy homeowners to move fast. 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.

Source: CNNMoney
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