Housing faces a tenuous recovery thanks to a looming fiscal cliff and lurking shadow inventory, but that hasn’t stopped the world’s rich and famous from plunking down millions on mansions in America’s most coveted neighborhoods.
A new report from Coldwell Banker Previews International highlights a handful of ZIP codes across the U.S. where the $10 million-plus market has been ablaze with buyer-seller activity. The luxury real estate firm tracked listings and completed sales from June 2011 through June 2012, in every U.S. market that Coldwell Banker Previews International has a presence, using data from both in-house agents and local Multiple Listing services.
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