Cash Buyers Are Giving the Luxury Home Market a Major Pick-Me-Up

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The high end is outperforming the general housing market, thanks to those who can afford to buy without financing

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https://www.wsj.com/real-estate/cash-buyers-are-giving-the-luxury-home-market-a-major-pick-me-up-2cf26da9Deep-pocketed home buyers who are paying cash to avoid rising mortgage rates are propping up the housing market, as high rates keep many borrowers on the sidelines. Prices, sales and inventory of luxury homes—defined as the top 5% of the market—are all outpacing the overall housing market, a shift fromThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

 

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