Q2 luxury real estate: Time on market to increase for luxury listings - Luxury Portfolio International
Q2 luxury real estate: Time on market to increase for luxury listings - Luxury Portfolio International
Abstract
The market for luxury properties is clearly slowing. For properties under $5 million, higher mortgage rates may hurt first-time or even repeat buyers. Even investors in properties across the U.S. and world may start offloading properties, adding to the glut in the market. The fear is that many opposed to the White House will talk down the economy through presidential elections in 2024, thus further depressing consumer sentiment. The Fed’s interest-rate moves may succeed in taking the heat off the economy.
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