The bursting of the housing bubble didn’t deter affluent buyers for long.
After the recession, the market for large, expensive homes slowed sharply. Yet despite the bursting of the housing bubble, the ensuing recession and the slow recovery, buyers have not abandoned luxury homes. It turns out that they just took a break. In July 2013, sales of homes costing more than $1 million were up 46.6 percent from the previous July. When it comes to new homes, bigger is again better.