Despite economic stumble, luxury real estate market remains solid
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For a professional couple at or near retirement age who own an apartment in Manhattan, or a family stuck in a Boston home as they watch through social media as their neighbors ride out a quarantine at their lakehouse, the prospect of owning a weekend or vacation home in the Lakes Region seems at least as good as ever.
Those, combined with low inventory, are some of the reasons why prices in the local real estate market have held steady, even during a time of historic unemployment due to the COVID-19 pandemic. And that spike in interest is occurring when real estate professionals now have more tools at their disposal to show homes and meet with clients in a virtual capacity.