You are here

US luxury home sales slowing from Miami to Los Angeles

Rising prices, strengthening currency discourage foreign investors, who helped lead the recovery, from buying

Home prices in 20 US cities climbed 4.9 per cent in the 12 months through September, the S&P/Case- Shiller index showed on Tuesday. Across the US, values have risen 25 per cent since their February 2012 bottom.


GROWTH in million-dollar home sales is slowing in areas including Miami, Las Vegas and Los Angeles as rising prices and the strengthening US dollar discourage foreign investors who helped lead the recovery.

In seven investor-heavy markets - the Los Angeles, Riverside and