Wealth transfer and nest investing put US high‑end housing in focus
A new wave of affluent Gen X and millennial buyers is poised to inherit an estimated $4.6 trillion in global real estate over the next decade. Roughly $2.4 trillion of that is expected to land in the United States, according to Coldwell Banker’s latest Global Luxury 2026 Trend Report.
The brokerage said the transfer would concentrate more capital in high‑end housing even as the broader market wrestled with higher rates and stretched affordability.
The report, based on three years of luxury sales data and surveys of more than 100 Coldwell Banker Global Luxury Property Specialists, argued that prime markets have increasingly diverged from the mainstream.
Nearly 80% of those specialists described their markets as “resilient,” pointing to steadily rising median prices and inventory that continued to move.
In the US, single‑family luxury home prices were reported to have risen 3% in 2025, with sales up 4%.
Meanwhile, Realtor.com’s Luxury Housing Report in November 2025 showed the 90th‑percentile “entry‑level luxury” threshold slipping to $1,199,977 in November, down 2.3% year over year, while the 99th‑percentile ultraluxury bar ticked up modestly to $5,490,492.
Nationally, million‑dollar listings made up 12.8% of inventory and the median luxury home spent 78 days on market, flat from a year earlier, even as individual metros diverged sharply.
“The next generations are inheriting a historic amount of wealth and approaching luxury with intention,” Michael Altneu, vice president of the Coldwell Banker Global Luxury program, said.
“They are choosing homes that reflected their identity, supported their day‑to‑day lifestyles, and protected long‑term financial value. For many, real estate has become a strategic piece of their wealth planning and a sanctuary for their well‑being.”
Wealth transfer meets “nest investing”
Coldwell Banker’s researchers said affluent buyers have continued to expand portfolios despite macro headwinds, with high‑net‑worth real estate holdings growing roughly 29.4% since 2020.
They framed this as part of a “nest investing” shift in which ultra‑wealthy households directed more discretionary spending into primary residences and second homes, and into properties priced between $3 million and $10 million.
“Younger buyers are approaching asset allocation differently than older generations,” Altneu said. “They are weighting real estate more heavily in their portfolios, signaling a preference for stability, utility, and long‑term value.”
New hotspots and “living large” preferences
The report also highlighted shifting geography as affluent buyers sought markets in the US South and Midwest that combined price growth, economic depth and lifestyle amenities, including Atlanta, Nashville, Dallas, Salt Lake City, San Diego and Minneapolis.
“Affluent buyers have more geographic flexibility than ever before,” Altneu said. “As wealth became more mobile, buyers are choosing different cities, and that shift was changing where luxury demand concentrated globally.”
At the property level, demand for larger footprints, multi‑use layouts and estate‑style homes appeared to be displacing the “quiet luxury” aesthetic.
Coldwell Banker said 5‑plus‑bedroom homes accounted for more than 60% of single‑family inquiries, and that the average luxury home sold in 2025 was about 4,250 square feet, nearly twice the size of the average new US home.
“For today’s ultra‑luxury buyers, special characteristics matter,” Jade Mills, president of Jade Mills Estates and international ambassador of the Coldwell Banker Global Luxury program, said.
“They want homes with presence and lasting value, including acreage and privacy, forever views, and architectural quality. Homes have to tell a story to truly stand out.”
In fact, a Realtor.com survey found that more than half of American adults prioritize holiday entertaining when selecting their next home, with younger generations driving the trend significantly higher than their older counterparts.
A large family room (92%) and a big kitchen (92%) tied as the top motivators for potential homebuyers wanting to host the holidays, followed closely by a large dining room (86%).
Interestingly, guest bathrooms (87%) ranked nearly as high as dining space.
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