Ultra-prime residential property markets closed the year with a surge in blockbuster transactions, even as annual momentum cooled modestly from mid-year highs, underscoring a bifurcated global luxury housing landscape shaped by tax policy, cross-border capital flows and shifting investor sentiment.
The median sale price of a luxury home in the United States climbed 4.6% from a year earlier to $1.31 million in December, significantly outpacing gains in the broader housing market, where non-luxury prices rose just 1.4% to $375,000 -- the slowest rate of appreciation recorded since tracking began in 2013.
Investors are preparing to deploy fresh capital into U.S. commercial real estate in 2026, encouraged by stabilizing asset values, improving operating fundamentals and growing confidence that borrowing costs are nearing a peak, according to a new survey from CBRE Group Inc.
U.S. commercial and multifamily mortgage balances expanded again in the third quarter of 2025, underscoring the resilience of apartment finance even as broader real estate markets contend with economic and capital-market uncertainty.
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