Luxury Real Estate Market Takes A Hit As Home Sales Drop By Record-Breaking 38%

Marred by inflation, elevated interest rates and recessionary fears, luxury home sales saw a significant decline in the three months ending Nov. 30, with a drop of 38.1% year over year. This marks the largest decline on record, surpassing the previous record of 31.4%, according to recent data issued by Redfin Corp. The pullback in luxury sales has led to a larger number of homes on the market, with approximately 163,000 luxury properties for sale during the same three-month period. Where Is It H