Sales of Million Dollar Homes Down 50% Nationwide

Sales of homes for more than $1 million are 50 percent lower than their all-time high, in July 2005, according to the firm MDA DataQuick. That's twice as bad as the downturn for housing of all price tags in the same time period. There's a definite flip side to that market statistic, though: If you're fortunate enough to still have money, there's likely never been a better time to acquire "luxury" property at bargain rates. Such homebuyers should be able to get roughly 20 percent "more house" than they did in recent years, Josh Brian Losh of luxuryrealestate.com told the AP.

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