Stock market gains and soaring investor confidence set the stage for high demand for luxury homes as 2017 came to a close. Luxury home prices rose 7.4 percent year over year to an average of $1.76M.
The Redfin Housing Demand Index fell 6.2 percent from 136 in October to 127 in November. Compared to last year, the Demand Index increased 29.1 percent.