Luxury housing in the US is no longer in demand?

Hello friends!
This is Igor Svechin.

I came across some interesting news here. It illustrates my previous post well.
What do you think about this?

Yes, actually, here’s the news:

🏡📉In the US, sales of luxury housing have decreased

According to the Redfin report (, sales of luxury real estate, which is in the 5% of the upper segment of the properties for sale, decreased by 17 .8% year on year for the three months ended April 30, 2022. This is the biggest drop since the start of the Covid-19 pandemic.

In fact, there have been only two other instances in the past decade where sales have fallen more severely, both around the time the pandemic began: the three months ending May 31, 2020, when sales fell 21.6%, and three months ending June 2020, when deals fell 23.6%.

💭“The good news for buyers is that the market is becoming more balanced and competition is easing. Of course, this does not help the many Americans who have been completely driven out of the market by high prices,” Elena Fleck, a real estate agent, says in the report.

💸Meanwhile, luxury property prices jumped 19.8% in the three months ended April 30, compared to their peak growth of 27.5% in the spring of 2021.