The ground is beginning to shift in the luxury real estate landscape in 2024 here in Hancock Park and across key markets of the US. Keep an eye on interest rates as they will be the first barometer of what lies ahead for the market. At this juncture, 36% of luxury consumers believe the market will be better and 36% believe it will be the same as 2023.
Coldwell Banker’s Global Luxury Trend Report for 2024 offers fabulous insights and predictions for those interested in going deeper. Or, better yet, if you would rather have a conversation over a coffee on Larchmont or a quick phone call for the summary and how that translates to the Hancock Park real estate market, contact Anne.
- Why inventory is likely to increase with the Fed easing rates and Sellers becoming less cautious
- Why Buyers want “have it all properties” now more than ever
- Why wealthy Americans may be adjusting to the new normal of high interest rates and prices
- How the AI revolution is likely to benefit residential real estate and what risks & limitations exist
- Which smart home features are likely to become more mainstream
Interestingly America remains the investment haven for affluent international buyers contrary to news headlines.