High-end Buyers haven’t been Spooked by Higher Interest Rates

Based on a recent article in the current issue of the Wall Street Journal, purchases of existing luxury homes, those priced above $1 million, are up 25% from last year. This is attributed to several factors. Wealthier buyers are less likely to be concerned by rising rates than lower-income home buyers. Also, wealthier Americans have more in their bank accounts and they have renewed confidence about the job market and the overall economy.

This is good news if you own a luxury home in Paradise Valley! If you are thinking about selling your home and you would like to know your home’s value, call me.

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