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As the real estate market continues to recover from the pandemic and luxury sales increase, prices are starting to rise. The price growth is driven by new fall inventory and an uptick in luxury sales.
“We will see prices slowly but surely go up,” said Scott Savory, a New York Licensed Associate Real Estate Broker with Compass.
People should be motivated to buy now while mortgage rates are still low, said Savory who is part of the StreetEasy experts program that allows buyers to work with partner agents for free to navigate the home buying process. There are no signals in the market indicating it will collapse or correct anytime soon. Demand is outpacing supply, so people should think about purchasing now versus later, he said.
“I think we’re going to see more listings come to…