Luxury Home Sales Soar, Even Helping Houses That Languished on the Market for Months
Americans looking to buy a home have struggled with bidding wars and a limited number of houses for sale.
But one area of the cutthroat real estate landscape is improving. It's the luxury segment, where listings are up and homes are selling at a rapid clip. The demand is so great that even "white elephants" – high-end homes that sat on the market for months before the pandemic began – are selling quickly as their owners willingly splurge on remodeling projects to spruce them up.
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