The market has seen steep price cuts amid the new tax law and fewer foreign buyers, CNBC reported. More than 500 listings had a combined price reduction of $1 billion in the second quarter, the report said. “Prices were growing too fast for what buyers were willing to pay,” Taylor Marr, a senior economist at RedFin, told CNBC. Of homes listed for $10 million or more, 12 percent saw a price drop. That’s doubled from […]
source https://therealdeal.com/2018/09/03/deep-discounts-the-luxury-market-has-seen-1b-in-price-cuts/
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