News Corporation, through its subsidiary Realtor.com, has released an analysis of the U.S. luxury home market for November 2025. The report reveals a continued softening of national luxury home prices, with the 90th-percentile threshold dropping to $1.20 million, a 2.3% decline from the previous year. The data highlights a mixed landscape, as some metropolitan areas experience rapid sales turnover while others see slower activity. Notably, eight of the ten most expensive markets posted annual price declines, with Kahului-Wailuku, HI, seeing a 21% drop in luxury thresholds. Conversely, Heber, UT, posted nearly a 10% increase, and Key West-Key Largo, FL, remained stable, illustrating divergent trends across the country. The analysis is based on listing prices for various types of luxury properties, covering single-family homes, condos, townhomes, and more, with historical data comparisons extending back to July 2016.