Sales of Million Dollar Homes Decline

Sales of homes priced above $1 million fell 4 percent in July from a year ago, according to the National Association of REALTORS®. Activity is far more robust at the entry level and middle of the market, thanks to a drop in mortgage interest rates and pent-up demand. The luxury market, however, doesn’t rely much on mortgages so much, but is far more sensitive to financial markets.


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