Los Angeles may have its Hollywood stars, Rodeo Drive boutiques and Brentwood mansions, but it's also home to millions of blue-collar workers employed in the area's aerospace, energy, shipping and warehousing industries.
While homes are a lot more affordable now than they were during the housing boom -- back then the median price was $530,000 and only 3% of the homes sold were considered affordable to median income families -- it's still a challenge for many of the area's residents to cover the cost of a mortgage.
Things are looking up, however. The unemployment rate has fallen by two percentage points over the past 12 months and home prices are starting to stabilize even further.
From Los Altos, Calif. to Brooklyn, N.Y., these 20 cities had the highest number of home sales exceeding $1 million during the 12 months ended June 30, 2013.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.45%||4.52%|
|15 yr fixed||3.47%||3.55%|
|30 yr refi||4.44%||4.51%|
|15 yr refi||3.46%||3.54%|
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