Housing pressures cool luxury home market
from By Michael J. Berens
Many of the same factors that are dampening the housing market overall finally caught up with the luxury home sector during the second half of 2018. Prices and inventories have begun to drop, and sales have slowed. Luxury properties were being snapped up at a near-record rate in the second quarter. While that brisk pace actually accelerated somewhat in the third quarter, the total volume of sales declined, according to Redfin’s latest luxury home report.
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