pandemic / 3 posts found
How Coronavirus is Impacting Luxury Real Estate
Reposted from Forbes | Dima Williams, Contributor | March 19, 2020 In the final quarter of 2019, luxury real estate in the U.S. rallied both in sale volume and price. The segment posted double-digit sales growth year-over-year for the first time in 2019. The entry price rose by 2.1% to $1.27 million, according to the realtor.com’s latest luxury report. “The stock market was very strong in the last quarter and we also saw mortgage rates that were lower than they had been a year prior,” says realtor.com chief economist Danielle Hale. “That really helps the luxury segment show a lot of strength.” The new year looked promising. Then, coronavirus gripped the…
The Luxury Market is Bouncing Back
Repost from housingwire.com | By Julia Falcon | June 25, 2020 Chief economist says the luxury market is leading the recovery With home price growth outpacing the overall housing market, it appears that luxury homes are bouncing back as homebuyers returned to the market in full force in May. According to realtor.com’s Luxury Housing Report released on Thursday, the luxury market actually outpaced the rest of the housing market in both price growth and views. Luxury home sellers re-entered the market with new listings for homes priced above $1 million, down just 15.1% year over year in May, compared to 57.8% in April. This means […]
U.S. Luxury Housing Market Saw Prices And Demand Grow In May
Reposted from Forbes | Dima Williams, Contributor | June 25, 2020 Similar to the wider U.S. housing market, which is bouncing back from the early, dampening effects of the coronavirus pandemic, the luxury segment recorded a promising uptick in entry prices, demand and inventory, according to a report by listing website Realtor.com. Defined as the top 5% of homes listed, the upscale housing sector saw the listing price entry point across the nation grow 6.1% year-over-year to $2.97 million. As more luxury residences hit the market in May compared to April, their higher prices led the overall housing market’s median […]