Luxury real estate is generally doing so well right now that it’s outpacing the broader housing market, though the pandemic is also creating permanent changes in the way high-end consumers think about property, according to Leverage Global Partners CEO Eric Balog.

Eric Balog

Balog took over the top spot at Leverage in May after spending nearly three decades working in finance, startups and investing. Since then, he has been tasked with guiding the company, which provides agents with a global network generally focused on high-end real estate, through the unprecedented times of a pandemic.

But while the pandemic has certainly been disruptive, it does not appear to have sapped consumers’ appetite for luxury real estate.

“I would say that broadly, in the U.S., we’re seeing luxury up across the board,” Balog told Inman. “And it strikes me that that’s because there’s historically low inventory, and historically low interest rates combined with that.”

There are exceptions to this trend. The high-end market in New York City, for example, is seeing some softening. But Balog said that overall luxury generally is thriving.

“What we are seeing is, if you look nationwide, there seems to be a constant level of demand,” he continued. “So if the market has cooled in New York a bit, the buyers are emerging elsewhere in the country. The transactions are still happening in aggregate across the U.S., it’s just that they’re getting more concentrated in certain regions than others.”

Balog added that mountain towns in particular have been the big winners of this trend.

“Nothing is outpacing the mountain towns of the Mountain West right now,” he explained.

Balog’s observations in the time since he took over as CEO of Leverage further show that even at the higher end of the spectrum, the market has surged back to life.

“It’s outpacing the broader market,” he ultimately concluded of luxury real estate.

Email Jim Dalrymple II

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×