High-end home buyers are backing off as rising interest rates, inflation, a tepid stock market and economic uncertainty make it less feasible to purchase luxury goods. Redfin Reports Luxury-Home Purchases Plummet 28%, the Biggest Drop on Record. Sales of luxury U.S. homes fell 28.1% year over year during the three months ending Aug. 31, 2022, … Read more
Luxury-Home Sales Sink 18%, the Biggest Decline Since the Start of the Pandemic. Redfin analysis finds the luxury-housing market is cooling down amid a slumping stock market, rising mortgage rates and economic uncertainty. Sales of luxury U.S. homes fell 17.8% year over year during the three months ending April 30, the largest drop since the … Read more
The pulse of luxury residential real estate. “The pandemic recalibrated interest in larger, greener properties, secondary cities, and geographies with favorable tax and emigration policies. These preferences are likely here to stay for the foreseeable future” – Bradley Nelson, chief marketing officer for Sotheby’s International Realty. The global wealth is forecasted to grow and … Read more
Luxury home prices in the U.S. rose 5.2 percent year over year to an average of $1.9 million in the second quarter of 2018, according to real estate brokerage Redfin. This is lower growth than in the first quarter, when prices were up 7.3 percent. The Redfin analysis tracks home sales in more than … Read more
The housing shortage in the U.S. is now affecting the top of the housing market, says Report. Luxury home prices rose 7.5 percent in the second quarter of 2017 compared to last year, to an average of $1.79 million, according to the latest luxury housing market report by real estate brokerage Redfin. Redfin’s analysis tracks … Read more
International buyers of residential real estate in the U.S. don’t have a significant impact on the overall housing market. They are more influential at the top end of the market, according to the 2017 Q2 Zillow Home Price Expectations Survey. The quarterly survey, conducted by Pulsenomics LLC, asked more than 100 housing experts and economists … Read more