Luxury Home Sales Dropping
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 1 May 2019
⏱️ 10 minutes
🧾️ Download transcript
Summary
Learn where luxury home sales are dropping, and where luxury home prices are increasing and decreasing.
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Transcript
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| 0:00.0 | Be wealthy and smart episode 558. If y'all know what I mean put your hands up and declare with me |
| 0:13.8 | Yeah, I'm full of faith I'm gonna live a good life I'm gonna live a good life |
| 0:21.1 | A beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.4 | be wealthy and smart. And now here's your host, Linda P. Jones. |
| 0:37.0 | Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor. Empowering Women and Men Worldwide to Financial Freedom. |
| 0:45.0 | On today's show, we're going to talk about luxury home sales dropping because there were some pretty |
| 0:50.7 | serious statistics that came out that show that high-end home sales have dropped |
| 0:56.0 | by 16% in the first quarter. So we're going to talk about where that was, why that's happening, |
| 1:02.0 | and give you all the good details. |
| 1:04.0 | This comes to us from an article on cnBc.com and it was written by |
| 1:08.5 | Diana Ollick and it was called luxury home sales see biggest slump in nearly a decade. |
| 1:15.0 | And there's three key points. |
| 1:17.0 | The first one is sales of homes listed at $2 million and above, |
| 1:22.0 | fell 16% in the first quarter, the sharpest annual decline since 2010, |
| 1:28.4 | according to Redfin, a real estate brokerage. |
| 1:31.7 | The second key point is this as the supply of those homes |
| 1:35.5 | rose 14% marking four straight quarters of annual increases in inventory and the third key point is the average price of a luxury home, |
| 1:47.0 | which Redfin defines as the top 5% in each of the 1,000 cities it tracks, fell 1.6% to 1.55 million. |
| 1:57.0 | Non luxury homes saw their average price rise 2.7% annually to $300,000. And the article says, the nation's priciest properties are in |
| 2:08.9 | far less demand this year, and that is taking a toll on their values. |
| 2:14.0 | Sales of homes listed at $2 million and above fell 16% in the first quarter. |
| 2:20.0 | The sharpest annual decline since 2010, according to Redfin, a real estate brokerage. |
... |
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