NEW YORK — The real estate market is so crowded that some of the priciest real estate in the U.S. may be in the wrong market.
In some cases, it may be the wrong city, too.
The top cities for luxury home purchases in the United States were: New York, Los Angeles, San Francisco, Atlanta, Chicago and Washington, D.C., according to data compiled by RealtyTrac.
Albuquerque has the highest percentage of luxury homes sold in a year at 15.6% of total home sales.
A luxury home can be purchased in Albuquerque for between $1 million and $3 million.
The median price of a home is about $1.3 million, according to the data.
New York has the second-highest number of luxury home sales, with 9,521 in the past year.
The city had the highest number of new luxury home starts in the last five years at nearly 1,500, according the data from Realty Trac.