The Institute for Luxury Home Marketing’s (The Institute) Luxury Market Report is your guide to an analysis on 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, as well as the 13-month trend.
This month, The Institute looked at the key drivers controlling the luxury real estate market.
They reviewed how the gradual alignment of influential factors has led to a perfect storm of high demand in the luxury segment and whether there are any significant factors that may cause this demand to slow in future months.
They investigated current supply and demand trends, as well as the divergence of statistical data and why the difference between the median list price for properties remaining on the market against the selling prices for sold properties is becoming increasingly larger.
The report will help you understand why the drivers of supply are as important as those of demand and how they are both contributing to a lack of inventory as well as the high demand for luxury properties.
Taking a deeper dive into these key drivers, The Institute discovered which affluent demographics are currently causing the most significant changes in the purchase and sale of properties.
Equally, The Institute found out why factors such as increased savings, low interest rates, high yielding stock markets, and rising costs for building materials are all impacting the demand and supply chains.