21 Mar After plunge in early 2018, sales of high-end homes expected to post moderate gain in spring.
Original article via The Star. Click here to read.
The first months of the year have seen a deep plunge in sales of high-end homes — a real estate category that is supposed to be largely immune to the day-to-day policy jitters and new lending rules that inhibit the average buyer.
But the dramatic descent in sales — a 55 per cent decline year-over-year in January and February in $1-million-plus properties in the Toronto area, and a similar decline in $4-million-plus homes — is actually a statistical aberration because of last year’s scorching home sales and prices, says Brad Henderson, CEO of luxury property purveyor Sotheby’s International Realty Canada.
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