The Institute’s Luxury Market Report is your guide to analyzing the trends and comparative data on the top-residential markets throughout Canada and the United States.
June’s report reviews the current statistics for the luxury market in North America month over month and the 13-month trend.
This month we look at the significance of the substantial increase of new listings entering the market during May 2022 and the subsequent rising inventory levels.
Based on 140 of North America’s luxury markets, we review the data to understand how much inventory has entered the market, comparing the numbers against 2021 and 2020 – and the reality of what this truly means.
We break down the factors that led up to this change in the market and reveal the major trigger during May for this significant shift and why homeowners are now ready to list their properties when they were so hesitant only a few months ago.
Is this really the luxury real estate bubble bursting or just the market finally cooling after an unprecedented two years? We look to put the facts into context.
Discover the new reality of these increased inventory levels for potential buyers and the expected impacts on property prices.
Based on current metrics, we review why most experts do not anticipate a major house price correction – reporting on the key reasons that are expected to prevent this from happening effectively.
However, we appreciate a growing need to understand the warning signs and new challenges that lie ahead – as the real estate market is currently open to uncertainty and negative influences from other market segments.
It is essential to understand that the art of selling and buying should always include an analytical approach to truly appreciate the realities rather than just listening to the market rhetoric.
For homeowners looking to sell or buy their luxury homes in today’s market, we recommend working with a realtor who can provide you with critical knowledge about your local market, maintain a high level of security and safety during the process, and who knows how to leverage technology and strategies to provide maximum exposure and assistance.
Get exclusive insights into the upper-tier real estate market at one of The Institute for Luxury Home Marketing’s live or online training sessions. Enroll today!