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Real Estate

Sales of $1-million-plus homes went through the roof in California

Sales of $1-million-plus homes went through the roof in California

Crowned by the sale of a Malibu estate for $74.5 million, the number of houses sold last year at $1 million and above statewide jumped to a six-year high, according to real estate information service DataQuick. In the strongest showing, the number of homes sold at $2 million and up set state, Southern California and L.A. County records. "The luxury market did bounce back last year," said housing market analyst Paul Habibi, a real estate lecturer at UCLA's Anderson School of Management. "A lot of people were stepping back into the waters." Among them were lucrative investors looking for a place to park their dividends. "The stock market lined the...

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