Luxury home prices stall in us

Luxury homes prices are stalling in the US, according to Redfin.

The property site's latest index shows home prices among the priciest 5 per cent of properties edged up just 0.4 per cent in the second quarter of 2015 compared to the same period in 2014. Prices in the bottom 95 per cent, on the other hand, grew 10 times faster, with values up 4 per cent during the same period.

Sales of homes priced $1 million or more surged in the second quarter, increasing 14.2 per cent from a year earlier. In fact, markets that saw the biggest decrease in luxury home prices had one thing in common - a large pickup in the number of high-end homes for sale since last year.