Redfin’s Chief Economist said recessionary fears weren’t enough to scare off wealthy homebuyers as the U.S. economy grew more than expected during the quarter.
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Luxury Homes Prices Up; D.C. Sales Spike
Luxury home prices are up more than 4 percent over the year, with Washington, D.C., seeing the biggest spike in price. According to one economist, potential tax cuts for the wealthy may be the cause. Other cities to see high year-over-year luxury home price growth were St. Petersburg, Florida; Portland, Oregon; Paradise, Nevada; West Palm Beach, Florida; and San Francisco.
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