Luxury-Home Purchases Drop by a Record-Breaking 28% as Bay Area Hit the Most

Per Redfin

As purchases of non-luxury homes fell 19.5% during the last three months ending on Aug 31, purchasing of luxury homes fell 28.1%.

The last time luxury homes fell this hard was in 2012 when the market saw a 23.2% plunge in luxury home purchases. Redfin says luxury home prices are increasing slower than non-luxury homes.

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