Fewer luxury homes sold in January 2022 compared to December 2022.  Overall inventory of luxury homes available for sale also saw a decline in January.  Median price stayed about the same and as Federal Reserve actions to increase interest rates take effect the real estate market should see a further slowdown as well.

• Housing Inventory Piles Up and Construction Costs Spike - With supply chains having major issues around the world new home construction costs are increasing.  Buyers are also starting to sit back and not chase prices.
• Pending Home Sales In December 2021 Decline Unexpectedly - With interest rates rising along with housing prices fewer buyers are stepping forward to buy a home.