Hugh Hefner

Luxury home sales cooled in 2016, but a record number topped $100 million

Luxury home sales cooled in 2016, but a record number topped $100 million

Global luxury home sales cooled off in 2016 for the second consecutive year, even with a record number of homes selling for more than $100 million.

A report released Wednesday by Christie's International Real Estate shows that sales of homes priced at $1 million or more edged up about 1% worldwide last year.

That represents a sharp slowdown in growth compared with 2015, when luxury home sales climbed 8%, and with 2014, when sales vaulted 16%.

Despite the sluggish sales growth, Christie's says luxury home prices continued to rise last year, increasing about 2% from a year earlier. And for the first time, 10 homes sold for more than $100 million each. The priciest sale,...

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