Luxury Home prices posted their smallest gain in two years in the 2nd quarter of 2014. The median price for a single-family home rose 4.4 percent from a year earlier according to the National Association of Realtors. The luxury housing market began to cool last summer due to rising mortgage rates and higher prices. Higher luxury home inventory has also made it difficult for luxury home sellers to command higher prices. The number of homes and condos for sale rose 6.5% last quarter. Home prices are still rising slightly in most markets with 71% of major markets reporting price appreciation.
Visit Ken on Google+