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Million-dollar home sales in California hit a 5-year high in 2012, rising 27% from 2011 to 27K...

Million-dollar home sales in California hit a 5-year high in 2012, rising 27% from 2011 to 27K homes, according to DataQuick. 7.8K of the sales were for cash, an all-time high. DataQuick's John Walsh notes buying activity at this price level is more influenced by a lack of other places for investment, rather than the strength of the economy.
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