Friday, 30 September 2022 | The Latest Buzz for the Appraisal Industry

Luxury Home Sales still Ascendant as Buyers Shift

By Jann Swanson

Posted To: MND NewsWire

Redfin, the large national real estate firm based in Seattle, is reporting that, while sales of homes costing over $1 million is still outpacing the rest of the market, the source of these sales is changing . The company says that the luxury housing market, which was the first segment to recover after the housing crisis, continues strong, driven by a record high stock market, low interest rates and by foreign investors. Sales of home costing more than $1 million increased by 9 percent in the third quarter of 2014 even as all home sales were down 1.2 percent when compared to the third quarter of 2013. However Redfin says that overseas investment in these homes is beginning to flag and those markets which have benefitted the most from foreign investors are seeing “a steady and dramatic decline…(read more)

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