Luxury home values are rising faster than typical homes for the first time in years
Zillow's latest analysis reveals that luxury home values are outpacing typical home appreciation for the first time in years. The typical luxury home in the U.S. is now worth about $1,620,000, with values up 3.9% year-over-year, compared to 3.2% for typical homes. This trend reversal is attributed to luxury buyers being less affected by higher mortgage rates and often able to pay in cash.
Key findings include:
- Luxury home inventory is 46.9% below pre-pandemic levels, a larger deficit than the overall market
- Richmond has the hottest luxury market, with values up 16.5% year-over-year
- Austin is the only major market where luxury home values have declined
- 20.8% of luxury listings experienced a price cut in June, compared to 24.5% of all listings
Ultima analisi di Zillow rivela che i valori delle case di lusso stanno superando l'apprezzamento delle case tipiche per la prima volta in anni. La tipica casa di lusso negli Stati Uniti ora vale circa $1,620,000, con valori cresciuti del 3.9% rispetto all'anno scorso, rispetto al 3.2% delle case tipiche. Questo cambiamento di tendenza è attribuito ai compratori di lusso che sono meno influenzati dai tassi ipotecari più elevati e spesso possono pagare in contanti.
I risultati chiave includono:
- l'inventario delle case di lusso è 46.9% al di sotto dei livelli pre-pandemia, un deficit maggiore rispetto al mercato complessivo
- Richmond ha il mercato di lusso più caldo, con valori aumentati del 16.5% rispetto all'anno scorso
- Austin è l'unico mercato importante dove i valori delle case di lusso sono diminuiti
- il 20.8% delle case di lusso ha subito un abbassamento di prezzo a giugno, rispetto al 24.5% di tutte le inserzioni
El último análisis de Zillow revela que los valores de las casas de lujo están superando la apreciación de las casas típicas por primera vez en años. La casa de lujo típica en EE.UU. ahora vale aproximadamente $1,620,000, con un aumento de 3.9% interanual, en comparación con el 3.2% de las casas típicas. Esta reversión de tendencia se atribuye a que los compradores de lujo se ven menos afectados por las tasas hipotecarias más altas y a menudo pueden pagar en efectivo.
Los hallazgos clave incluyen:
- El inventario de casas de lujo está 46.9% por debajo de los niveles previos a la pandemia, un déficit mayor que el del mercado en general
- Richmond tiene el mercado de lujo más caliente, con valores que aumentan 16.5% interanual
- Austin es el único mercado importante donde los valores de las casas de lujo han disminuido
- El 20.8% de las propiedades de lujo experimentaron una reducción de precio en junio, en comparación con el 24.5% de todas las propiedades
Zillow의 최신 분석에 따르면 고급 주택 가치가 일반 주택의 가치를 초과하고 있습니다 이는 수년 만에 처음 있는 일입니다. 미국의 일반 고급 주택은 현재 약 $1,620,000의 가치를 지니며, 전년 대비 3.9% 증가했으며, 일반 주택은 3.2% 증가했습니다. 이러한 추세 전환은 고급 구매자들이 높은 모기지 금리에 덜 영향을 받으며 현금으로 지불할 수 있는 경우가 많기 때문입니다.
주요 발견 사항은 다음과 같습니다:
- 고급 주택 재고는 팬데믹 이전 수준보다 46.9% 낮습니다, 이는 전체 시장보다 더 큰 결핍입니다.
- 리치먼드는 가장 뜨거운 고급 시장으로, 가치가 전년 대비 16.5% 증가했습니다
- 오스틴은 고급 주택 가격이 하락한 유일한 주요 시장입니다
- 6월에 고급 목록의 20.8%가 가격 인하를 경험했으며, 이는 모든 목록의 24.5%에 해당합니다.
La dernière analyse de Zillow révèle que les valeurs des maisons de luxe surpassent l'appréciation des maisons typiques pour la première fois en plusieurs années. La maison de luxe typique aux États-Unis vaut maintenant environ $1,620,000, avec des valeurs en hausse de 3.9% par rapport à l'année précédente, contre 3.2% pour les maisons typiques. Ce renversement de tendance est attribué au fait que les acheteurs de luxe sont moins affectés par les taux hypothécaires élevés et peuvent souvent payer en espèces.
Les principales conclusions incluent :
- L'inventaire des maisons de luxe est 46.9% en dessous des niveaux d'avant la pandémie, un déficit plus important que celui du marché global
- Richmond est le marché de luxe le plus dynamique, avec des valeurs en hausse de 16.5% par rapport à l'année précédente
- Austin est le seul marché majeur où les valeurs des maisons de luxe ont diminué
- 20.8% des annonces de luxe ont connu une baisse de prix en juin, contre 24.5% de toutes les annonces
Die neueste Analyse von Zillow zeigt, dass die Werte von Luxusimmobilien die Wertsteigerung typischer Immobilien übertreffen und das zum ersten Mal seit Jahren. Das typische Luxushaus in den USA hat jetzt einen Wert von etwa $1,620,000, mit einem Anstieg von 3.9% im Vergleich zum Vorjahr, im Vergleich zu 3.2% für typische Häuser. Diese Trendwende wird darauf zurückgeführt, dass Luxuskäufer weniger von höheren Hypothekenzinsen betroffen sind und oft in bar bezahlen können.
Die wichtigsten Erkenntnisse umfassen:
- Der Bestand an Luxusimmobilien liegt 46.9% unter dem Niveau vor der Pandemie, ein größerer Rückgang als der gesamte Markt
- Richmond hat den heißesten Luxusmarkt, mit einem Anstieg von 16.5% im Vergleich zum Vorjahr
- Austin ist der einzige große Markt, in dem die Werte von Luxusimmobilien gesunken sind
- Im Juni erlebten 20.8% der Luxusangebote eine Preissenkung, im Vergleich zu 24.5% aller Angebote
- Luxury home values increased by 3.9% year-over-year, outpacing typical home appreciation of 3.2%
- Richmond's luxury home market is booming with a 16.5% year-over-year increase in values
- Luxury home inventory is up 15.7% year-over-year, indicating increased market activity
- Only 20.8% of luxury listings had price cuts, lower than the 24.5% for all listings, suggesting stronger demand
- Luxury home inventory remains 46.9% below pre-pandemic levels, indicating a supply shortage
- Austin's luxury home values declined by 1.5% year-over-year, the only major market to see a decrease
- The share of luxury listings with price cuts increased from 19.4% to 20.8% year-over-year, indicating some pricing pressure
Insights
The luxury home market is showing surprising resilience, with values outpacing typical homes for the first time in years. This trend, lasting five consecutive months, marks a significant shift in the real estate landscape. Luxury home values are up
Several factors contribute to this phenomenon:
- inventory: Luxury home inventory remains
46.9% below pre-pandemic levels, a larger deficit than the overall market. This scarcity is likely driving up prices. - Cash buyers: Affluent buyers are less affected by high mortgage rates, often able to purchase with cash, maintaining demand despite economic headwinds.
- Regional variations: Richmond leads with a staggering
16.5% increase in luxury home values, while Austin is the only major market experiencing a decline at1.5% .
For investors, this trend suggests potential opportunities in the luxury segment, particularly in hot markets like Richmond and Hartford. However, caution is warranted as the luxury market can be volatile and subject to economic shifts affecting high-net-worth individuals.
The luxury home market's outperformance is a noteworthy development that could signal broader economic trends. Key observations include:
- Inventory dynamics: While luxury inventory is up
15.7% year-over-year, it's still significantly below pre-pandemic levels. This suggests a potential for continued price growth if demand remains strong. - Price cut trends:
20.8% of luxury listings experienced price cuts, lower than the24.5% for the overall market. This indicates relatively stronger demand in the luxury segment. - Market velocity: In hot markets like Richmond, luxury homes are selling in just 6 days, reflecting intense competition.
The divergence between luxury and typical home value growth could indicate increasing wealth inequality or a shift in buyer preferences towards high-end properties. Investors should monitor this trend for potential impacts on housing affordability and market stability. The regional variations highlight the importance of local market knowledge in real estate investment strategies.
The shift in luxury home value growth relative to typical homes is a significant economic indicator. This trend may reflect broader economic patterns:
- Wealth concentration: The outperformance of luxury homes could signal increasing wealth concentration among high-net-worth individuals.
- Economic resilience: The luxury market's strength suggests that upper-income segments are weathering economic challenges better than others.
- Regional economic shifts: The varying performance across markets (e.g., Richmond's boom vs. Austin's decline) may indicate changing economic dynamics in different regions.
Investors should consider the potential long-term implications of this trend. If sustained, it could lead to increased market segmentation and potentially exacerbate housing affordability issues. The luxury market's resilience in the face of high interest rates also suggests that monetary policy may have differential impacts across income levels. This could influence future policy decisions and have broader economic ramifications.
While the luxury segment shows strength, it's important to monitor for any signs of a bubble or unsustainable growth, particularly in rapidly appreciating markets like Richmond and Hartford.
Listings for luxury homes are seeing relatively more competition than homes in the market's midrange
- Luxury home values are up
3.9% year over year. - Inventory of luxury homes remains
46.9% below pre-pandemic levels, a bigger deficit than in the housing market overall. Richmond has the hottest luxury housing market in the country.Austin is the only major market where luxury home values have declined throughout the past year.
The typical luxury home nationwide — defined for this analysis as the most valuable
Luxury home values across the
"Luxury homes can be challenging to sell because the pool of buyers is so much smaller. That's one reason prices for them usually grow more slowly," said Anushna Prakash, economic research scientist at Zillow. "We're seeing a different trend play out this year. Luxury home buyers are likely less affected by higher mortgage rates than a typical buyer, especially repeat buyers who saw their home equity soar over recent years. Many will be able to pay with cash and skip a mortgage payment altogether."
Luxury home inventory has been slower to recover than inventory overall, helping to keep prices climbing. Inventory in the luxury segment is up
The share of luxury listings with a price cut is climbing, but is tracking below the market as a whole. In June,
The luxury home market in
Metro Area | Typical Luxury | Luxury Home | Luxury For-Sale | Share of | Median Days |
3.9 % | 15.7 % | 1.4 % | 24 | ||
2.2 % | -4.4 % | 0.5 % | 57 | ||
| 3.5 % | 35.5 % | 2.1 % | 31 | |
5.6 % | 0.5 % | -0.4 % | 13 | ||
5.3 % | 32.6 % | 5.4 % | 22 | ||
4.8 % | 0.0 % | 2.1 % | 23 | ||
| 3.4 % | 11.3 % | -3.5 % | 11 | |
| 4.6 % | 14.4 % | 2.2 % | 8 | |
2.9 % | 15.0 % | 1.4 % | 83 | ||
5.0 % | 16.8 % | 1.4 % | 23 | ||
5.8 % | 13.7 % | -0.7 % | 17 | ||
7.1 % | 19.1 % | 6.2 % | 39 | ||
San | 1.1 % | -4.0 % | -1.0 % | 16 | |
4.6 % | 21.8 % | -0.5 % | 35 | ||
3.7 % | 11.0 % | 0.6 % | 7 | ||
4.5 % | 3.2 % | 0.3 % | 9 | ||
| 0.9 % | 15.9 % | 2.3 % | 26 | |
5.9 % | 17.3 % | -2.7 % | 24 | ||
2.7 % | 80.4 % | 0.0 % | 38 | ||
1.1 % | 11.6 % | 2.9 % | 17 | ||
| 4.6 % | 13.3 % | 0.5 % | 8 | |
4.8 % | 8.5 % | 1.5 % | 7 | ||
4.7 % | 43.2 % | 1.0 % | 30 | ||
7.9 % | 21.2 % | 5.6 % | 22 | ||
| 1.0 % | 19.6 % | 0.0 % | 33 | |
0.4 % | 19.3 % | -2.1 % | 20 | ||
| 2.1 % | 17.0 % | -0.5 % | 18 | |
| 5.2 % | 1.4 % | 3.8 % | 11 | |
| 5.3 % | 6.5 % | -0.8 % | 7 | |
-1.5 % | 24.7 % | 1.9 % | 68 | ||
7.5 % | 0.2 % | 1.7 % | 42 | ||
| 4.4 % | 15.9 % | 3.5 % | 8 | |
| 4.4 % | 26.8 % | 1.1 % | 10 | |
| 3.2 % | 12.8 % | -2.9 % | 9 | |
7.1 % | -4.5 % | 2.3 % | 8 | ||
6.4 % | 19.1 % | -4.7 % | 10 | ||
3.1 % | 12.1 % | 2.1 % | 35 | ||
| 5.6 % | 10.1 % | -2.3 % | 32 | |
| 7.8 % | 30.5 % | 2.6 % | 20 | |
| 4.3 % | 36.5 % | 5.9 % | 44 | |
| 5.5 % | -19.5 % | -3.5 % | 24 | |
| 1.7 % | 24.4 % | 4.5 % | 34 | |
6.9 % | 38.0 % | -1.1 % | 9 | ||
2.2 % | 41.5 % | 0.6 % | 40 | ||
16.5 % | -13.2 % | 1.8 % | 6 | ||
2.6 % | 43.5 % | -1.0 % | 9 | ||
| 0.0 % | 17.3 % | 1.1 % | 42 | |
| 4.0 % | 34.2 % | 0.1 % | 20 | |
8.6 % | 3.0 % | 2.5 % | 7 | ||
4.9 % | -5.4 % | 0.7 % | 11 | ||
| 4.0 % | 19.3 % | 1.2 % | 13 | |
*Table ordered by market size | |||||
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