Monday Market Update: Luxury Market Headlines
Spotlight on a few top stories!
The best news we can share is that it’s almost 4th of July! We could not start off this week without a gentle and heartfelt reminder for all of us to pay homage to those who fought for our nation’s independence. As Friday approaches, may we all act with intention and grace in honor of those who have sacrificed for us to be free.
Besides the excitement of the 4th of July, we also scoured the headlines for you and noticed that there was much talk about the luxury market. The 3 articles below shine a spotlight on where the high-end market is headed.
Here's How The Luxury Real Estate Market Is Splitting Up | CNBC
Published last week, this read from CNBC distinguishes how “…economic uncertainty is creating a divide in the luxury real estate market between ultra-rich buyers and the merely wealthy.” The article also reveals the role that real estate plays in asset building, and with over 2/3 of luxury property agents reporting that their affluent clients are maintaining or increasing their exposure to real estate during times of economic uncertainty.
High-End Housing Market Trends and Outlook | Realtor.com®
Chief Economist Danielle Hale starts off this spring publication with a confident statement: “Despite the plethora of challenges faced over the past few years, the American economy has continued to grow, and that growth has been an important driver of real estate value.” The article continues by explaining how gains in real estate are biggest among the top half of the wealth distribution, and how the $1 million-plus category of homes has been the fastest growing/least declining sales segment for 21 months straight.
San Francisco’s Luxury Housing Market Is Booming Again Thanks to AI Wealth | Bloomberg
A national media producer shines the luxury light on a local level as it’s revealed that San Francisco is “is now undergoing a major renaissance in its luxury housing market” – noting that the city had more home sales above $20 million last year than any other time in history. Much of the luxury market success is believed to be rooted in the city’s status as a hub for AI players and start-ups due to the region’s vast labor pool with tech expertise.
We hope that you have a great week, with great new knowledge about this market sector – and great plans to honor our nation this Independence Day!
All my best,
Bobbi
Bobbi Decker
DRE#00607999
Broker Associate, Bobbi Decker & Associates
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
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