US trophy-home prices climb at slowest pace in three years

Boston

PRICES for the most expensive US homes grew at the slowest pace in three years as wealthy buyers became worried about overpaying following a surge in values, Redfin Corp said.

Prices for the top 5 per cent of homes in the 300 cities Redfin tracks rose 0.9 per cent in the first quarter from a year earlier, compared with a 4.3 per cent gain for the rest of the market, according to an analysis released on Thursday by the Seattle-based brokerage.