What's happening with the residential real estate market and how does it affect art sales?

The residential real estate market is actually thriving right now, which is a major positive for art sales. People are fleeing cities, buying homes with more space, and the value of having your own home has skyrocketed because people want to avoid being stuck in small apartments or condos. Demand for homes is so high that appraisals are taking longer than ever, and rental trucks out of major cities are booked weeks in advance. When people buy new homes or move to larger spaces, they need to decorate them, and they’re investing more thought and money into making those spaces feel right. This surge in home purchases and relocations directly feeds increased demand for art and home decor.

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Asked by artists wondering about economic conditions · Answered by Patrick Shanahan · art-marketing-podcast · 2020-07-14