U.S. Luxury Prices Return to ‘Normal’

Average Sentiment: Highly Positive (3.13)
Wednesday 19:08 GMT
Category: Economy

U.S. luxury markets have entered a “new normal” of subdued price growth after eight years of frenzied appreciation post-recession, according to a report Tuesday by Coldwell Banker Global Luxury.

“The luxury real estate market led the general housing market out of the global recession, and during that explosive upswing, we saw some of the largest year-over-year price gains ever,” said Diane Hartley, general manager for The Institute for Luxury Home Marketing, Coldwell Banker Luxury’s partner in data collection for the report. “Now we are simply seeing a return to a more typical pricing and sales paradigm—especially for single-family detached properties,” Ms. Hartley added.

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