A Setting Sun on the Luxury Real Estate Market?

The sizzling real estate market of the last few years experienced a formidable cooldown last year. Sales of residences valued at $1 million and higher increased a mere 1 percent in 2016 after rising 8 percent in 2015 and 16 percent in 2014, according to a new report, “Luxury Defined” from Christie’s International Real Estate.
Although the study reports that the global economy strengthened and stock markets climbed, a setback in luxury-home sales and second-home spending in prim