New construction is experiencing a surge in sales, and new condominium sales are leading the way. This is a "sign of the times." People are focusing on scaling down. The emphasis is on "less rather than more." The new high end homes are not at the top of the list any longer, but the new condominium units with luxury amenities are now the "star of the day."
Consumers continue to be very concerned about their financial future, and when they see the light of day through a crack, they take action. We are experiencing homeowners selling their "high end homes" and paying cash for a "high end condo."
Homeowners of luxury resale properties are now the competition for high end new construction, and the builders of those single family high end new homes are feeling the financial effects of this competition. New condo communities are selling well. The key to the sales rests on the amenities found within the condo. When the buyer walks through the new condo for the first time, if that first impression is a reminder of their luxury home, it's a done deal!!
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