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The Ultra Luxury Report Is Here, Stocks Rise After Powell Signals Fed Rate Cuts Ahead, "We’re Not Going to See Home Sales Go Gangbusters Because of One Rate Cut By the Fed.

Martin Eiden | August 23, 2024

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New and Noteworthy

The Ultra Luxury Report Is Here

The ultra-luxury real estate market in the US exhibited exceptional strength in the first half of 2024, with 838 homes sold publicly at $10 million-plus, totaling $14.66 billion in sales volume and surpassing H1 2023 figures. This data, paired with top Compass agent insights, can be found in our 2024 Mid-Year Ultra-Luxury Report.

(Read More)

Cover of the 2024 Compass Luxury Ultra Luxury Report.

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Stocks Rise After Powell Signals Fed Rate Cuts Ahead

Stocks rose Friday after Federal Reserve Chair Jerome Powell indicated interest rate cuts were on the horizon. The Dow Jones Industrial Average climbed 360 points, or 0.9%. The S&P 500 gained 0.9%. The Nasdaq Composite advanced 1.2%. With Friday’s gains, the three major averages are heading for a winning week despite some choppiness.

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Team News

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Off To University

Our Noble is off to University!

We’re so excited for the journey he is about to embark on. We are also so proud and will miss him so much. 🥹 Can’t wait to hear about all of the things he gets up to - just hoping he doesn't make the news!

We know he'll do great.

Have the best time Noble!

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Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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