1047 ET - The luxury housing market slowed in April. Financial volatility led both buyers and sellers at the high end to hit pause, Zillow says. The typical luxury home--defined as the top 5% most valuable homes in each region-is now worth about $1.8 million nationwide, and more than double that in six major metros: San Jose, Los Angeles, San Francisco, Miami, San Diego and New York. Luxury home values have increased 2.7% over the past year, outpacing the 1.4% growth seen in the broader market. High mortgage rates, elevated home prices and ongoing macroeconomic uncertainty have made many people hesitant to enter the market. However, the limited supply of high-end homes and their desirable features continue to keep home values ticking higher, even in a more subdued market, Zillow says. (chris.wack@wsj.com)
(END) Dow Jones Newswires
June 05, 2025 10:47 ET (14:47 GMT)
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