Phoenix luxury home sales plunge

By Dale Brown and Paul Thompson | Phoenix Business Journal

Weekly luxury home sales fell drastically for the week of May 6 to 11, reflecting a topsy-turvy market that saw Phoenix lead the nation in home price cuts in April.

The top 40 luxury homes sold during that week generated $138.6 million in sales value, down roughly 21% from the $175.1 million generated from the top luxury sales during the previous week.

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