Austin luxury homes see 10% price drop

Luxury home prices across the U.S. have declined for 28 consecutive months, with the national high-end threshold dropping 2.7% in July. Austin, Texas, experienced the steepest decline at 9.6%, alongside significant price drops in San Francisco and Boston, though sales are moving faster due to reduced inventory. Despite price reductions, demand remains strong in markets like San Francisco and Boston, where high-end properties are selling quickly or holding steady, driven by wealthy buyers and unique property characteristics.

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