Million-Dollar Homes Are Easier to sell, with the luxury market posting some
of
the largest increases in home sales compared to every other price
category, according to the National Association of REALTORS®. Sales of homes priced $1 million and above surged 16.2 percent year-over-year in October. On the other hand, overall home sales rose only about 4.7 percent during that time,
according to NAR. Also, inventory levels of higher-priced homes dropped
by the largest amounts, falling to a 10.6-month supply. Nonetheless, the prospects for townhouse construction over the long run are positive,
given large numbers of home buyers looking for medium-density
residential neighborhoods, such as urban villages that offer walkable
environments and other amenities, read more.
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