The National Association of Realtors reports that 8% of all owner-occupied homes in the U.S., or about 6.9 million properties, are now valued at $1 million or more, a significant increase from just 2% two decades ago due to rapid home price appreciation and supply constraints. This trend highlights the need for buyers to adjust their expectations based on local market conditions and consider factors like mansion taxes when evaluating homes near the $1 million threshold.
Read the full article at Realtor.com Blog
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Ali NematiWritten by Ali
