The Pandemic Luxury Housing Boom Is Over and These Markets Lost Everything They Gained
The pandemic handed luxury sellers something rare: total control. Buyers were desperate, bidding wars were normal, and off-market deals were closing above asking price with no questions asked.
That era is over.
In several major US cities, luxury home prices are still falling. Sellers are waiting longer, accepting less, and in growing numbers turning to auction houses just to get a deal done.
The Boom That Set the Trap
Between 2020 and 2022, wealthy buyers flooded into cities like Austin, Miami, and Denver. Remote work removed geography as a barrier. Near-zero interest rates made spending feel consequence-free…