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A tale of two housing markets: Luxury demand surges as affordability squeezes starter-home buyers
The U.S. housing market is trending in two different directions as a new report from Zillow finds that while demand for luxury homes is surging, starter home sales are softening with growing inventory.Zillow's data defines starter homes as those in the 5th to 35th percentile of home values in a given region, whereas luxury homes are in the top 5% of a region's home values. Around the country, the typical starter home is worth about $202,000, an increase of 2.3% from a year ago, while the typical luxury home is worth about $1.9 million, up 3.1% from last year.Inventory for starter homes is up 4...2 hours ago
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