Luxury Housing Market News - Redfin

Housing Market News

Luxury Home Prices Hit All-Time High As Record Share of High-End Buyers Pay Cash

Prices of luxury homes rose at twice the pace of non-luxury homes at the end of 2023,   partly because elevated mortgage rates are irrelevant to many affluent buyers. Low inventory is another factor driving prices up: Even though luxury new listings rose, overall supply is still below pre-pandemic norms. The typical U.S. luxury home

Luxury Home Prices Post Double-Digit Drops in the Bay Area, Seattle

Luxury home prices in the Bay Area and Seattle fell between 10% and 13% in the second quarter—more than anywhere else in the country. Nationwide, luxury prices rose 5% from a year earlier.  Luxury home sales dropped 24%, the smallest decline in a year. Non luxury listings declined roughly twice as much as luxury listings,

Luxury-Home Purchases Sink a Record 45% to the Second-Lowest Level on Record

That outpaces the record 37% decline in sales of non luxury homes. The supply of luxury homes for sale is also near historic lows.  Sales of luxury U.S. homes declined a record 44.6% year over year to the second lowest level on record during the three months ending Jan. 31, 2023. That outpaced the record

Luxury-Home Sales Sink 38%, the Biggest Decline on Record

That outpaced the 31% decline in non luxury home sales—which was also a record drop—but there are early indicators that homebuyer demand may inch back. Sales of luxury U.S. homes fell 38.1% year over year during the three months ending Nov. 30, 2022, the biggest decline on record. That outpaced the record 31.4% decline in

Luxury Home Prices Hit All-Time High As Record Share of High-End Buyers Pay Cash

Prices of luxury homes rose at twice the pace of non-luxury homes at the end of 2023,   partly because elevated mortgage rates are irrelevant to many affluent buyers. Low inventory is another factor driving prices up: Even though luxury new listings rose, overall supply is still below pre-pandemic norms. The typical U.S. luxury home

Luxury Home Prices Post Double-Digit Drops in the Bay Area, Seattle

Luxury home prices in the Bay Area and Seattle fell between 10% and 13% in the second quarter—more than anywhere else in the country. Nationwide, luxury prices rose 5% from a year earlier.  Luxury home sales dropped 24%, the smallest decline in a year. Non luxury listings declined roughly twice as much as luxury listings,

Luxury-Home Purchases Sink a Record 45% to the Second-Lowest Level on Record

That outpaces the record 37% decline in sales of non luxury homes. The supply of luxury homes for sale is also near historic lows.  Sales of luxury U.S. homes declined a record 44.6% year over year to the second lowest level on record during the three months ending Jan. 31, 2023. That outpaced the record

Luxury-Home Sales Sink 38%, the Biggest Decline on Record

That outpaced the 31% decline in non luxury home sales—which was also a record drop—but there are early indicators that homebuyer demand may inch back. Sales of luxury U.S. homes fell 38.1% year over year during the three months ending Nov. 30, 2022, the biggest decline on record. That outpaced the record 31.4% decline in

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