In 2015, a total of 1,762 homes were started for sale with a price of $1 million or more according to the Census Bureau’s Survey of Construction. New homes started for sale with a price of $ 1 million or more decreased as a share in absolute number in 2015. That number was significantly lower than in 2013 (3,347 homes) and 2014 (3,019). Previous posts have discussed the upward trend in the median and average size of new single-family homes and how part of this is likely due to a historically atypical mix of buyers in the market.
In 2005, the number of new homes at this price reached a peak of 5,647 units. In the boom year of 2006, 4,966 new homes started were million dollar homes built for sale. In 2007, only 2,449 such homes were started followed by 1,028 homes in 2008. From 2009 to 2012, fewer than 1,000 of these $1 million+ homes were started every year.