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Gauging the Luxury Market

by paulmcdonald
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Gauging the Outlook for the Luxury Housing Market Reposted from The Washington Post | by Troy McMullen | May 7, 2020 When it launched condominium sales in February, the Towers of the Waldorf Astoria in Manhattan was already girding for market headwinds. After years of excess, home sales on the island were slipping, declining in eight of the past nine quarters, according to housing data from Miller Samuel Real Estate Appraisers & Consultants. Amid a glut of new luxury towers and a shrinking foreign-buyer pool, sales in the fourth quarter of 2019 reached its lowest level in the past decade. Developers of […]