How will luxury sales trends change this year?
The 2021 Luxury Trends report has arrived and what a year it was. The luxury real estate buying boom, which started in 2020, grew frantic in 2021. In both years, luxury buyers headed to less populated areas to escape pandemic fears and restrictions and gain some much needed space while spending a lot of their time at home.
Read on for all of the latest details!
What's Ahead for Luxury Sales:
- Low standing inventory which will continue to increase (or maintain) prices
- New construction for luxury homes will be hampered by supply chain issues, rising cost of materials, and labor shortages
- Most, but not all, luxury buyers will want a move-in ready home with little to no remodeling or updating