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Starter homes pile up as luxury listings move faster

Reported · Written up by our desk · Residential

Zillow Research said its latest data shows a split in the housing market, with starter homes building up in inventory while luxury homes are selling more quickly.

According to Zillow Research, starter-home supply is rising even as price cuts increase and buyer competition appears to change, indicating softer demand in lower price segments.

At the same time, Zillow Research reported that luxury homes are moving off the market faster, pointing to stronger absorption at the high end.

The divergence, based on Zillow’s observations, suggests that competition and pricing pressures are shifting in opposite directions across the two ends of the market.

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