CNNMoney.com says the $1 million-home market is definitely back in business. The country's largest markets all booked gains in 2010, with Nashville's rising 13 percent. A big factor in bringing back liquidity: A thawing mortgage loan market that has made things a tad bit easier on those in the "aspiring" category.
Normally buyers have to take out a jumbo loan to finance any mortgage beyond the $417,000 threshold ($729,000 in high-cost cities such as New York). These loans have higher interest rates because they are considered non-conforming -- or higher risk -- and are not backed Fannie Mae or Freddie Mac.
In 2009 buyers of high-end homes paid 1.8 percentage points more in interest than the average buyer. But in 2010, that spread had shrunk to just 0.6 points more.
We've been seeing the trend in our Headline Homes feature, too. Look for the February installment next Monday.