In the past four years, this percentage has more than doubled.
According to Redfin’s estimates, 8 million homes were valued at over $1 million in June 2024, compared to 7.2 million in June 2023 and 3.4 million in June 2019.
Additionally, the proportion of homes worth at least $1 million has increased year-over-year in 47 out of the 50 largest metro areas.
At the same time, the median price of luxury homes surged 9.0% year-over-year, reaching a new record high of $1.18 million in Q2 2024.
Housing costs have never been this steep.
submitted by /u/XGramatik
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