As with other sectors of the housing market, sales of luxury homes in the U.S. plunged in late March and April as most of the country came under stay-at-home orders. Domestic clientele decided to hold back, and with many other affluent countries facing similar restrictions, including bans on air travel, the pool of international buyers and investors soon evaporated. In recent weeks activity has begun to revive, however, and industry insiders anticipate that sales will start to rebound by early summer.
|