03 Aug '17, 3pm

#Luxury home #prices #soar...

#Luxury home #prices #soar...

The slump in the swankiest sector of the housing market appears to be over, and, ironically, it may be due to a dose of reality among sellers. Sale prices of luxury homes in the second quarter of this year were up 7.5 percent from a year ago, the first time luxury gains have outpaced the rest of the market since 2014, according to Redfin, a real estate brokerage which defines luxury as the top 5 percent of the most expensive homes sold in each city in each quarter. While some point to the recent runup in the stock market, the real reason for the luxury recovery may be a shift in the mind of sellers. They were asking too much, and now that they're asking less, there is more action in the market, in turn boosting prices again. "There have been several years of a large disconnect between luxury sellers and market conditions, and what we've noted in all our research is that se...

Full article: https://www.cnbc.com/2017/08/03/luxury-home-prices-soar-a...

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Here is another chance to #win #luxury #home #decor FOLLOW US & RETWEET READ story here:

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