Number of US homes worth $1 million or more has hit an all-time high - but the trend is reversing in three 'boomtowns'

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Number of US homes worth $1 million or more has hit an all-time high - but the trend is reversing in three 'boomtowns'

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There are more homes worth $1 million in the US than ever before, following years of house price rises. After a decade of rock bottom interest rates, sluggish homebuilding and the lockdown-fueled 'race for space,' home values have rocketed higher. Yet the recent higher mortgage rates over the past 18 months have not resulted in lower demand as historically low amounts of properties are available, pushing prices even higher. So much so that now nearly 1 in 10 homes across the country are worth $1 million or more.
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