As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

“In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”

“Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021.

If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points.

“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”

Read More link article The Luxury Market Is Attracting Buyers in 2021 | https://fiabci.org