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Michael Nourmand Michael Nourmand is the president of Nourmand & Associates.

LOS ANGELES—Demand from foreign investors for luxury single-family houses is shrinking, according to Michael Nourmand, president of Nourmand and Associates. For the last several years, foreign investors have been driving the upper crust of the single-family housing market, but with global economic volatility rearing up and a strong US dollar, the foreign buyer pool is shrinking. As a result, the luxury housing market is beginning to plateau, with prices either stagnant or nominally decreasing and sales volumes losing momentum. To find out more about this trend in the single-family niche of the real estate business, we sat down with Nourmand for an exclusive interview. Here he talks about trends in the market and why he continues to have a positive outlook.

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Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

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