A larger-than-expected employment gain in July could boost the recovery in prices for luxury U.S. homes.
Stock market volatility caused a drop in luxury values in the first quarter of this year, but prices recovered slightly in the second quarter, rising 0.8 percent annually, according to Redfin, a real estate brokerage. Redfin defines a home as luxury if it is among the top 5 percent most-expensive homes sold in each city.
The second quarter didn't start very well for stocks and they plunged after the Brexit vote in June, but the market has rebounded quite significantly since then. Friday's employment beat could boost the market even more, adding fuel to the recovery in luxury home prices.