NEW YORK - July 13, 2011 - Amid still-depressed housing numbers that dominate headlines, a new survey by the independent New York City-based Luxury Institute and the Institute for Luxury Home Marketing finds that high net-worth U.S. homeowners are taking advantage of the downturn and trading up into higher-priced primary residences.
Lured by lower prices, one in four U.S. consumers with an annual income of $150,000 or more have bought a residential property since 2008 at a median purchase price of $509,000 - an increase of 3.2 percent from the 2005 to 2007 period.
Most new residences (83 percent) are single-family homes and two-thirds of those are in suburban settings. Seventeen percent plan to purchase additional property this year, while 23 percent of those younger than 50 plan to buy in 2011.
To read the full story click here
If you are looking to buy, sell or rent properties in Aventura, Sunny Isles Beach, Hallandale Beach, Hollywood Beach, South Beach, Miami Beach, Fort Lauderdale call Fidan Noriega @ 305-336-5423, email firstname.lastname@example.org