In a new white paper just released from the Luxury Home Council entitled The 2007 State of Luxury Home Market Report the group notes that the market for high end homes is still flying high even as sales sag in the overall real estate market.
Sutherlin, OR (PRWEB) July 29, 2007 -- In a new white paper just released from the Luxury Home Council entitled The 2007 State of Luxury Home Market Report the group notes that the market for high end homes is still flying high even as sales sag in the overall real estate market.
The Luxury Home council, a twelve hundred member group of REALTORS® who specialize in selling luxury homes, produced the white paper to help assist their affluent clients in making informed decisions when buying and selling luxury homes. Jim Remley co-founder of the group and author of the white paper explains "Buying and selling a luxury home is a huge financial decision. With the general real estate market in many areas suffering our clients want to be sure that they have all the facts before moving forward."
According to DataQuick, a market research firm, sales of homes priced at $5 million and above jumped 18 percent in 2006 and an amazing 31 percent in the first quarter of 2007. Not surprisingly, real estate professionals who sell luxury homes are optimistic about the affluent market with 55 percent expecting to see either strong or modest growth within the high-end housing sector over the next twelve months.
This positive outlook is bolstered by the fact that the world economy grew 25% in 2006 according to Forbes Magazine, the fastest growth in recorded history. As most luxury home buyers describe themselves as either a large business executive (46%) or an entrepreneur (51%) this has led many to either purchase or upgrade to a luxury home. One clear indicator of this growth - the Census Bureau's decennial census which revealed that the number of homes valued in the $1 million plus range increased 470 percent between 2000 - 2005 accounting for 1.92 percent of the national home inventory.
After reviewing the report in it's entirety Stefan Swanepoel, CEO of REALTYU the large network of real educators in the nation endorsed the strength of the content adding "The luxury home market is an integral part of the real estate industry and understanding its make-up, nuances and players is imperative for anyone wishing to participate. Knowledge is key and this whitepaper provides excellent insights, facts and stats on this important and growing market segment."
The 2007 State of Luxury Home Market Report is now available free of charge at www.luxuryhomecouncil.com
The Luxury Home Council is dedicated to providing high quality information and training to real estate professionals working in the luxury home field. In 2004 the Luxury Home Council launched the Accredited Luxury Home Specialist (ALHS) Course. This intensive two day course explores national luxury housing trends, specialized luxury buyer and seller needs, development and delivery of unique high level services, representation issues, liability and risk management, builder services, personal marketing, and much more.
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