The luxury home market posted its biggest drop in a decade. ‘It’s like Crickets.’

When Nancy Lam upgraded in January to a home near her children’s school in the San Francisco Bay Area, she thought she had plenty of time to list her old home, a five-bedroom modern home. in the sought-after suburb of Lafayette.

After all, the pandemic has sent the luxury housing market soaring, and homes across the country are seeing fierce bidding wars and selling for sky-high prices. Ms. Lam, a business professor, and her husband, who works in healthcare and wishes to remain anonymous, spent time building the house to get the best possible price for the home they bought. for $1.67 million. 2014.


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