The luxury real estate market in the United States is grappling with a shortage of inventory, as evidenced by a substantial decline in active existing home listings, which has dropped by 45% since 2000. This decline comes at a time when the U.S. population has grown by approximately 20%. For instance, in the Saint Louis metro area, the three-month rolling average of luxury supply stands at only 1.73 months, significantly lower than the five months typically considered a sign of a healthy market. Furthermore, in Oakland and San Jose, California, just 0.8% of the area’s total luxury housing stock was listed on average over the three months ended January 31. These statistics underscore the significant scarcity of luxury housing supply, posing challenges for both buyers and sellers in affluent real estate markets nationwide.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
