High-End Home Sales Particularly Sluggish in Current Market

Washington, DC, February 20, 2023-Home sales slumped last year, but sales of the most expensive homes were particularly weak, reports the Wall Street Journal. 

“From August to November of last year, Zillow data show home sales were down an average of 25% year on year for the top third of the market, but an average of just 11% for the bottom third. A recent Redfin report notes current housing demand is ‘selective,’ with affordable, suburban and competitively priced homes in highest demand, while ‘most everything else is sitting.’”