Luxury Home Sales Are Declining, Redfin Finds [Video]

The CNBC Luxury Real-Estate Report, conducted by Redfin, found that sales of homes $1 million or more fell 20 percent in the fourth quarter.

The fourth quarter of 2014 saw 14,834 homes sold for $1 million or more in the major markets covered by Redfin, down from the 18,435 homes at the same price sold in the third quarter. According to CNBC, it remains unclear whether the fourth-quarter slowdown is a one-off or a signal of a broader shift in the housing market.

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