Skip the starter home and go straight to luxury

We’re being facetious, of course, but starter homes – generally smaller, two-bedroom units – closed out 2022 with 15 percent year-over-year price increases.

Meanwhile, luxury homes – here defined as the 10 percent most expensive homes in any given market – saw a modest 2.5 percent increase at the close of 2022.

What gives?Analysts agree that luxury home purchases are more discretionary – and with the stock market down – many feel that it is simply not a good time to buy.

Starter homes are the opposite – buying fulfills a need, not a whim – and the competition is much more fierce, thus driving up prices

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