US luxury home market heating up

The U.S. luxury home market is being driven to new heights by relatively low prices, low interest rates and a more stable economy than in many countries, experts say.

Luxury housing agents around the nation are reaching out to international buyers. Some brokers are working in conjunction with art sales in far-flung locales in Asia. Bus tours for potential international buyers have been taking place in the Los Angeles market for the past several years. West Coast buyers in the $20 million price range are looking for the wow factor, with one house being built in Beverly Hills will be surrounded by a moat.

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