Housing Market News
Luxury Market
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 Purchases Plummet 28%, the Biggest Drop on Record
The decline was roughly twice as severe in the Bay Area. High-end homebuyers are backing off as rising interest rates, inflation, a tepid stock market and economic uncertainty make it less feasible to purchase luxury goods. Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022, the
Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic
The luxury-housing market, which experienced a meteoric surge last year, is coming back down to earth amid a slumping stock market, rising mortgage rates and economic uncertainty. Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent
Vacation-Home Demand Rose 83% Above Pre-Pandemic Levels in November
Interest in second homes remains strong as buyers race to lock in low mortgage rates and employers introduce permanent rules for remote work. In November, demand for second homes was up 83% from pre-pandemic levels, an uptick from October’s 72% increase but still slightly below January’s record 91% gain. That’s according to a Redfin analysis
Second-Home Demand Rose 70% From Pre-Pandemic Levels in October
While demand for vacation homes has cooled slightly since the start of the year, it’s expected to remain above pre-pandemic levels as Americans take advantage of more permanent remote-work policies. Demand for second homes was up 70% from pre-pandemic levels in October, outpacing August’s 48% gain but below January’s record 91% growth. That’s according to
Supply of Affordable Homes Posts Record Gain as Mortgage Forbearance Ends
In the luxury market, demand remains strong but has cooled from its pandemic peak as a return to normalcy has affluent Americans spending their savings outside of the housing market. The supply of America’s most affordable homes for sale jumped a record 13% year over year in the third quarter as mortgage forbearance programs came
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 Purchases Plummet 28%, the Biggest Drop on Record
The decline was roughly twice as severe in the Bay Area. High-end homebuyers are backing off as rising interest rates, inflation, a tepid stock market and economic uncertainty make it less feasible to purchase luxury goods. Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022, the
Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic
The luxury-housing market, which experienced a meteoric surge last year, is coming back down to earth amid a slumping stock market, rising mortgage rates and economic uncertainty. Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the onset of the coronavirus pandemic sent
Vacation-Home Demand Rose 83% Above Pre-Pandemic Levels in November
Interest in second homes remains strong as buyers race to lock in low mortgage rates and employers introduce permanent rules for remote work. In November, demand for second homes was up 83% from pre-pandemic levels, an uptick from October’s 72% increase but still slightly below January’s record 91% gain. That’s according to a Redfin analysis
Second-Home Demand Rose 70% From Pre-Pandemic Levels in October
While demand for vacation homes has cooled slightly since the start of the year, it’s expected to remain above pre-pandemic levels as Americans take advantage of more permanent remote-work policies. Demand for second homes was up 70% from pre-pandemic levels in October, outpacing August’s 48% gain but below January’s record 91% growth. That’s according to
Supply of Affordable Homes Posts Record Gain as Mortgage Forbearance Ends
In the luxury market, demand remains strong but has cooled from its pandemic peak as a return to normalcy has affluent Americans spending their savings outside of the housing market. The supply of America’s most affordable homes for sale jumped a record 13% year over year in the third quarter as mortgage forbearance programs came
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