Luxury Real Estate Market Rebounds with Economy
Luxury Portfolio members across North America are reporting a steady increase of activity in their respective markets, specifically in regards to second home purchases, while the economy continues to strengthen. As high-end buyers, poised to strike as the market heats up, begin to unleash the pent up liquidity it’s become apparent that the luxury market has turned a major corner.
Kirsten Faverin, of CIR Realty in Canada, notes, “The luxury real estate market has been booming in Calgary. The first half of this year has seen 388 MLS sales of homes over $1 million, a 10% percent increase from the same period in 2012.” While in the Dallas-Fort Worth market, Mary Frances Burleson, president and CEO of the Ebby Halliday Companies, reports that luxury home sales are up a staggering 23.2% over the same period last year.
Subsequently, widespread market improvement has dramatically increased global interest in Luxury Portfolio, with coverage expanding to such countries as New Zealand, Mauritius and the Dominican Republic. Member recruitment is on track to potentially double 2012 enrollment while maintaining our high standards of luxury market share, experience in the high end and reputation.
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