The share of US homes valued at $1M or more stopped shy of a record notched last summer as high mortgage rates and low inventory drove home prices upward in June, a Redfin analysis shows
The share of $1M homes in the US dropped from a high of 8.6% in June 2022 to approximately 7% in January, due in part to higher mortgage rates that have cut into homebuyer purchasing power
Homes priced over $1M made up 10.8% of all saved searches on Redfin.com in January, up from 8.5% the previous year, and the highest point this figure has reached since 2017
The partnership will allow for the syndication of all Coldwell Banker Global Luxury listings priced at $1M or more to JamesEdition.com, as well as placement on Bloomberg's Property marketplace, among other things
87 neighborhoods in the City by the Bay have median home values of $1M or more, only 15 are more affordable
Attention from start-ups and tech giants has pushed California home values past the $1M mark
Redfin reports 7% price increase, shrinking supply in high-end sector