The fall in million dollar sales over the past year reflects the overall weaker housing market conditions and the fact that higher valued properties have typically recorded the greatest value falls.
Overall, the latest housing finance data is mirroring other indicators such as auction clearance rates and the CoreLogic Home Value Index, which highlight early signs of improved housing market conditions.
With the recent release of the quarterly consumer price index (CPI) data for June 2019, we’ve updated our analysis of real (inflation-adjusted) changes in dwelling values.
