Ultimately, its good to see the real estate market on the rise. However, it’s really exciting to see the luxury real estate market coming back into the fold. According to the National Association of Realtors the luxury real estate market, nationally, is up by 7.3%. This is great news especially when you consider the idle progress the luxury market has made over the past 5 years.

However, with the increase popularity in the luxury market it’s also coming with an increase amount of demand for better interior features in the home and more up to date appliances. Many luxury buyers are beginning to run away from the hassle of renovating and preferring to build a custom home or buy a new home. This is happening all across the nation and the builders are recognizing the trend.

Just in Raleigh, NC alone the luxury market is up by 73% in the new homes category but in the re-sale space it’s only up by 29%. That’s more than a 40% spread and homeowners who want to sell are recognizing that if they want to move their home they are going to either have to put some money into it or reduce the price. This appears to be the current trend moving forward until much of the luxury inventory is acquired.