During times like these, one would think that the sales of homes with all the bells and whistles would see a downturn, but that is not the case, according to Redfin. The technology-powered real estate company instead reports that U.S. luxury homes sales grew 60.7% year over year during the three months ending Nov. 30, which marked the largest jump since 2013.
Redfin reports that this nearly quadrupled the growth during the three months that ended on Feb. 29, before the coronavirus had been declared a pandemic. But what also makes this so impressive is that it outpaced the 14.8% increase in mid-priced homes sales and the 6.8% rise in affordable homes sales.
“Americans are pouring money into their homes. Sometimes that means remodeling, and sometimes it means purchasing a luxury beach house in Florida.”