The luxury housing market rebounds

Las Vegas’ housing market is on a hot streak, thanks to cash investors who are buying cheap homes in bulk to rent out.

But the valley’s luxury sector also is picking up speed.

There were 85 local sales of million-dollar homes during the three months ending March 31, up from 39 deals during the same period last year, according to Redfin, a real estate listing service.

If sales continue at that pace, 2013 will be the best year by volume for Southern Nevada’s high-end housing market since the economy bottomed out.

There were 194 sales of million-dollar homes last year, compared with 188 in 2011, 252 in 2010, 219 in 2009 and 352 in 2008, Redfin reported.

What will a couple of million dollars buy these days? These are the six most-expensive homes sold during the first half of 2013, according to the Greater Las Vegas Association of Realtors and Clark County property records: READ THE FULL ARTICLE HERE