Luxury Home Sales Fall Nearly 18%
Luxury home sales fell 17.8% from last year during the three months ended April 30, 2022, representing the largest drop since the onset of the COVID-19 pandemic, according to an analysis by Redfin, the technology-powered real estate brokerage. Meanwhile, sales of non-luxury homes dropped 5.4%, according to Redfin’s analysis. Luxury homes are defined as the most expensive 5% of homes in each metro area.
Source: nationalmortgageprofessional.com