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Luxury Home Sales Slow, Prices Drop 5% Nationwide

10/17/2025

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Summary

Story summary

Sales of upper-bracket homes priced over $1 million are selling more slowly in the U.S. housing market, taking about twice as long as in previous periods.
Despite a 20% increase in sales from last year, sellers are reducing asking prices, accepting nearly 5% less on average.
The roughly 5% discount represents the largest reduction across all price ranges.

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Story summary

Sales of upper-bracket homes priced over $1 million are selling more slowly in the U.S. housing market, taking about twice as long as in previous periods.
Despite a 20% increase in sales from last year, sellers are reducing asking prices, accepting nearly 5% less on average.
The roughly 5% discount represents the largest reduction across all price ranges.