While many Americans are sitting on the sidelines, waiting for the real-estate market to become more affordable, ultrawealthy buyers are still snapping up homes.
Sotheby’s International Realty’s 2026 Mid-Year luxury outlook survey found that 55% of its real-estate affiliated professionals worldwide who specialize in properties priced at $10 million and above saw an increase in luxury homebuyers in their local markets over the previous 12 months. Respondents also said they expect strong demand for the remainder of 2026.
“The affluent remain engaged and confident in the luxury housing market. They are deliberate but not deterred,” Philip A. White Jr., president and CEO of Sotheby’s International Realty, said in the brokerage’s report.
Here are four trends gaining traction among ultrawealthy homebuyers according to Sotheby’s report, from a revival in San Francisco’s real estate market to a growing demand for homes that allow buyers to age in place.
Luxury buyers want a home where they can age in place
Americans are increasingly focusing on health and wellness, transforming not only how they live but also what they want in their homes.
Sotheby’s International Realty found that luxury buyers — many of whom already invest in products and routines that help them stay healthy — are less likely to downsize or move into senior housing. Instead, they are opting to buy homes that better allow them to age in place.
Sotheby’s International Realty’s survey shows that nearly 40% of real estate professionals said aging in place is a growing priority among homebuyers.
“Increasing life expectancy, coupled with affluent homebuyers’ desire to ‘age in place,’ is reshaping everything from home design and location choice to how inventory circulates in prime real estate markets,” Tammy Fahmi, senior vice president of global servicing and strategy at Sotheby’s International Realty, said in the report.
For luxury buyers, a home’s ability to support a high quality of life is a top priority. Sotheby’s found that they want spa-like amenities, including saunas, cold plunges, and red-light therapy; advanced air and water filtration, and easy access to the outdoors through nearby hiking or walking trails. Those who can afford it are also interested in integrated health-monitoring technology or in-home staff.
2. Miami remains a hot spot for ultrawealthy homebuyers
While home sales are still down across the country, Sotheby’s International Realty’s report suggests that the luxury end of the real-estate market is doing well.
“There’s a little more inventory that has helped keep that property market moving,” Lawrence Yun, chief economist and senior vice president of research at the National Association of Realtors, said in Sotheby’s report. “The stock market has helped, plus the ability of upper-end homebuyers to pay with cash and not be concerned about mortgage rates.”
In the US, several markets continue to attract luxury buyers, especially Miami. In recent years, celebrities and billionaires, including Jeff Bezos and Mark Zuckerberg, have purchased multimillion-dollar homes in the Miami area.
“The ultra-luxury property market in Miami is on particularly solid ground,” Yun said. “They had a little oversupply, but with their infrastructure development and new luxury condominium construction, it’s becoming an even bigger city.”
3. Ultrawealthy buyers want to live where their money goes further.
Global uncertainty is prompting many people to reconsider both where they invest their money and where they live. For ultra-high net worth individuals, that often means looking to cities that offer stability and greater value.
Among those places, Milan is becoming an increasingly attractive destination for luxury homebuyers, according to a Sotheby’s report.
Milan’s appeal is also tied to Italy’s tax incentives and residency-by-investment program, which provides access to the Schengen Area, which includes countries such as the Netherlands, Spain, Sweden, Portugal, and Greece.
“That has attracted a lot of ultra-high-net-worth individuals,” Diletta Giorgolo, a global real estate advisor at Italy Sotheby’s International Realty, said in the report. “More people were coming to Italy for not only residency, but their fiscal regime. We were always used to international buyers, but they came for second homes. The big difference is that now many are buying primary homes.”
4. AI is breathing new life into the Bay Area and reviving its real estate market
As the AI industry booms in the Bay Area, younger affluent buyers who left for cities like New York and Los Angeles are being drawn back by job opportunities.
“San Francisco thrives on innovation and new technology, and now the AI boom is real,” Alex Hachiya, a San Francisco-based senior global real estate advisor at Sotheby’s International Realty, said in Sotheby’s report. “Wealth flooded back into the city in 2025, and we saw 84% more sales of homes priced at $7.5 million and up that year, compared to 2024.”
Hachiya said it is typical for younger luxury buyers, many of whom work in tech, are entrepreneurs, or come from family wealth, to buy homes in San Francisco before later purchasing a second property in the suburbs, where they plan to raise their children.
He added that when it comes to homes, these buyers want move-in-ready homes with flexible living spaces and walkable neighborhoods.
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