Prices for Million-Dollar Homes Leveling Off
While the sales of homes priced at $1 million or more has increased 14 percent (24,064 homes) since last year, the prices were comparable to what they were a year ago, according to CNBC.
As for $5 million homes, sales jumped 20 percent but prices decreased 1.2 percent. There are 65,000 million-dollar homes for sale in the U.S. and more than 4,000 homes priced at $5 million or more.
Experts think that the figures could be attributed to a declining number of foreign buyers, or even wealthy buyers in America who don’t want to spend top dollar for a residence.
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