Real Estate (Page 12)

America’s hottest housing markets aren’t in flashy coastal cities — they’re in communities across the Midwest and South.

Even as the national market cools, areas in states like Missouri and Kentucky are seeing double-digit price growth while remaining within reach for middle-income buyers.

Recent data from the National Association of Realtors (NAR) ranked the top five single-family metro areas with the highest home price appreciation last quarter.

Missouri’s Cape Girardeau held the top spot with a nearly 20% yearly increase and a $275,000 median home price, followed by Cumberland, Maryland, up 17.1% with a $174,900 median home price; Owensboro, Kentucky, up 15% with a $264,000 median home price; Anniston-Oxford, Alabama, with a 14.9% increase and $175,103 median home price; and Mobile, Alabama, which appreciated 13.7% at a median home price of $216,235.

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The numbers signal strength in smaller, more affordable pockets of American cities and that housing opportunities remain highest outside expensive urban cores. Migration toward lower-cost regions also continues to shape market dynamics.

In contrast, the bottom five single-family metro areas that had the slowest price appreciation were Elmira, New York; Farmington, New Mexico; Boulder, Colorado; Pueblo, Colorado; and Cleveland, Tennessee, with NAR noting that some overheated markets are correcting and higher-cost Western markets show pressure.

Additionally, America’s national median home prices rose 1.2% year-over-year to $414,900, signaling market resilience despite economic headwinds, while monthly mortgage payments fell 5.7% – to $2,057 – from the previous year.

The housing market has cooled this winter with the annual pace of home price growth easing to levels unseen since the nation was recovering from the Great Recession. While some areas continue to see strong price growth, others, like Hawaii, California, Texas and Florida, have seen notable declines.

As of last week, mortgage affordability was at a four-year high after rates fell in January, with the White House touting President Donald Trump’s economic policies and maintaining his promise to “unlock” the opportunity of homeownership for American families.

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As of Tuesday afternoon, the 30-year fixed-rate mortgage averaged 6.09%, down from last week’s 6.11%, Freddie Mac reports. This time last year, the 30-year rate was at 6.87%.

“Joe Biden’s inflation crisis crushed the dream of homeownership for millions of Americans — but President Trump is bringing it back,” White House press secretary Karoline Leavitt previously told Fox News Digital. “Thanks to the President’s successful economic policies, unnecessary red tape is being cut at a historic pace, borrowing costs are easing, and income growth is outpacing home price gains — finally making housing more affordable again.”

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FOX Business’ Eric Revell and Brooke Singman contributed to this report.

For millionaire business owner Frederic Lepoutre, the decision to move his family from the South Florida coast to Texas Hill Country wasn’t just about a change of scenery — it was a lesson in efficiency.

While building a custom home in a place like Broward County can be a yearslong odyssey of red tape and soaring insurance premiums, Lepoutre saw his 11-acre Texas estate go from breaking ground to move-in ready in just over 12 months. 

With an initial property tax bill of just $8 on his land and insurance costs one-fifth of what he’s paid for decades in the Sunshine State, Lepoutre is part of a growing wave of high-net-worth individuals proving that, in 2026, the Lone Star State isn’t just winning on taxes — it’s winning on speed.

“I think it already has [surpassed Florida as the center of gravity],” Lepoutre told Fox News Digital. “First of all, you have the land for manufacturing. You don’t have it here in Florida… it’s a huge state… and part of West Texas now, you hear about AI factories that are building up.”

“I think it will if it hasn’t already,” Lepoutre’s wife, Lynn Lepoutre, also said.

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“Americans are voting with their feet. They want places that are livable. They want places that are workable. They want places that are sustainable and affordable,” Texas REALTORS Chair Jennifer Wauhob told Fox News Digital. “And so I think this migration, as we call it, is really turning into a long-term shift.”

Recent data from Texas REALTORS shows that one-third of new residents are coming from California, Florida, New York and Colorado, with 30% of interstate movers choosing to relocate to Dallas. Texas’ median home price currently sits at $335,000, below the national average of about $415,000.

While younger workers and families may flock to bigger cities and their suburbs, the semi-retired Lepoutres – who oversee National Textile and Apparel and invest in oil and gas – purchased their land in a remote area near Bandera and Kerrville, a few hours’ drive west of San Antonio. They had to purchase at least 10 acres per a county minimum mandate, and bought the land three years ago for $26,000 per acre.

Plans for a second home were long in the works, and Texas not only provided enough land for their project, but Lepoutre claimed the initial tax bill with agricultural exemptions was $8 per year (while the home itself awaits formal assessment) and the regulatory environment allowed for quick construction turnaround.

“It takes three years to build a house here. It took us one year from literally getting the ground ready to moving in. In Texas, it took us one year, and the only permit we needed was for the water well and the sewer system,” Lepoutre said. “It’s the opposite [of Florida]. It’s a total 180.”

“The highways, the infrastructure, they’re quick. They move fast. There’s no resting on their laurels,” Lynn said. “If they’re building a highway, it’s finished. They get it from start to finish quickly.”

“We were looking for peace, quiet, tranquility, privacy and a slower pace,” Lynn added. “When we were looking online [at homes], it’s either an older home, and we wanted to build a house together. We already pretty much knew exactly what our design would be. You couldn’t find that [anywhere].”

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Their new home is off-grid enough that they had to build a private 600-foot water well and switchback mountain-style driveway, which makes package delivery a “nightmare” as items are often left at the bottom and must be retrieved by four-wheel drive. Additionally, there’s a remote-specific helicopter ambulance service membership that’s offered due to their rural location.

“We wanted to be somewhere where you can look at the stars at night and not see one light. You can’t see your neighbors. The trees are still low enough where you can see out, the view from our house now is 40 miles,” Lepoutre said. “It’s very rare to see properties like this in America anymore.”

“I’ve been [in Florida] since ‘88, so I’m ready for the change, and I just like the way of life in Texas and the people in Texas, and it’s just a nice, refreshing place to be,” Lynn said. “Everything’s bigger in Texas.”

“What we’re seeing with this migration of all these people moving to our state is, it’s creating a really steady demand for housing, and that spans to all levels. We’re seeing a demand for entry-level housing, and we’re still seeing a strong demand for luxury-level housing. So it’s, right now, a really balanced, healthy market,” Wauhob noted, “and all these people coming in here, it’s just creating good things for Texas.”

“I am a native Texan, but I did spend some time moving around the country for my husband’s job. And I can say, having to live in other states, people who move here, they are very happy with how far their housing dollar goes,” she continued.

As more and more companies dual-list on the NYSE Texas, Texas is also seeing executive relocations happen in waves. Wauhob briefly discussed how REALTORS work with state economic development teams to ensure there is enough housing to meet the rising residential and corporate demands.

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“We’re really trying to be proactive. We don’t wanna be trying to catch up after all these people get here. We wanna think ahead, plan ahead, and make sure that when people get there, we have infrastructure in place and we have healthy communities for them to move into,” the chair said.

“I would say this does not feel episodic to me. If you look at the data, this has been going on for several years in a row now,” Wauhob expanded. “We have a steady flow of people coming here. We’re not seeing big surges, which is a great thing because we wanna have slow, steady growth. So to me, this is something to keep an eye on. I don’t think it’s gonna go away anytime soon… people are coming, and they’re not leaving.”

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High-net-worth Californians are increasingly setting their sights on Las Vegas as they look to reduce their tax burden and protect their finances as a proposed wealth tax looms in the Golden State. 

New data shows that by the end of 2025, more than 23% of Realtor.com listing views for Las Vegas homes came from Los Angeles, making it the leading source of out-of-market interest.

San Jose accounted for more than 8% of views, while Riverside, California, made up nearly 4%, according to Realtor.com.

“Migration from California to Las Vegas may reflect both tax considerations and the meaningful affordability gap between the two markets,” Realtor.com senior economic research analyst Hannah Jones told FOX Business in an email.

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That gap is substantial. Los Angeles’ typical home price topped $1 million in January, while San Jose’s median listing price was even higher at $1.1 million. 

In contrast, Las Vegas’ median listing price stood at $465,000, according to Realtor.com.

Nevada’s lack of a state income tax also remains a major draw, Jones said.

“Taxes and overall cost of living are major drivers, and Nevada’s lack of state income tax continues to be one of the most frequently cited reasons for the move,” Jones said. 

“For some clients, it’s purely financial. They can sell a $2 million to $3 million home in California and purchase a comparable or larger property in Las Vegas for less while reducing their ongoing tax burden.”

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The migration trend also comes as California considers a proposed wealth tax that would impose a one-time 5% tax on the net worth of residents with assets exceeding $1 billion.

The measure, backed by the Service Employees International Union–United Healthcare Workers West, would need roughly 875,000 signatures to qualify for the November ballot.

California Gov. Gavin Newsom has opposed the measure, warning it could push high earners to leave the state.

“While policy discussions like a potential wealth tax may influence timing for some high-income households, the ability to convert expensive coastal real estate into greater purchasing power in a lower-cost market is likely also a significant driver,” Jones told FOX Business. 

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“Together, these financial incentives are helping sustain cross-state housing demand.”

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Meta CEO Mark Zuckerberg and his wife, Priscilla Chan, are buying a waterfront mansion in Miami’s exclusive “Billionaire Bunker,” becoming the latest high-profile California billionaire to establish roots in Florida amid tax concerns.

FOX Business’ Kristen Altus contributed to this report.

The “McMansion” is officially moving from a status symbol to liability.

Twenty years after the 2006 housing boom, new data from Zillow reveals a fundamental reversal in the American Dream: Buyers are ditching “wasted scale” and mahogany-heavy footprints for high-efficiency “sanctuaries.”

As insurance premiums and property taxes soar, real estate experts warn that the oversized, unoptimized estates of the mid-aughts are becoming a financial exposure for homeowners who fail to adapt.

“The appetite for space hasn’t disappeared, but the definition of value has evolved. Buyers still want room for family, entertaining and flexibility. What they don’t want is excess without purpose,” Catena Homes principal Harrison Polsky told Fox News Digital.

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“With rising insurance costs in Texas and higher property taxes, a 5,000-plus-square-foot home that isn’t energy efficient or thoughtfully designed can absolutely feel like a liability. But a well-built, high-performance home of that size with strong insulation, efficient systems and functional layout still represents the American Dream here,” he added. “The shift isn’t away from scale entirely; it’s away from wasted scale.”

“In Palm Beach County, scale still has strong appeal, particularly in waterfront and estate communities. However, soaring insurance costs in Florida have changed buyer behavior,” RWB Construction Management founder Robert Burrage also told Fox News Digital.

“A 6,000 or 7,000-square-foot home built in 2006 without impact glass, elevated construction, modern roofing and generator systems can absolutely feel like financial exposure,” Burrage noted. “Buyers are willing to pay for size, but only if it’s engineered for resilience.”

Going back to 2006, luxury was granite and mahogany. In 2026, Zillow says it’s pickleball courts and golf simulators (with listing mentions up 25%) to whole-home batteries (up 40%) and zero-energy-ready homes (up 70%).

“Resilience and lifestyle go hand in hand. Whole-home generators, battery storage, hurricane-rated systems, smart-home integration and expansive outdoor living are expected,” Burrage said.

“A large home without those features narrows the buyer pool significantly. Meanwhile,” he said, “a slightly smaller but technologically advanced home designed for indoor-outdoor living often performs better in terms of demand and pricing.”

“Today’s buyers are far more educated about operating costs and long-term durability,” Polsky agreed. “In this market, lifestyle infrastructure and sustainability are no longer bonuses. They’re baseline expectations.”

Resale advice used to be: “Keep it beige.” Now, Zillow finds buyers offer more for olive green and charcoal gray, with “color drenching” mentions up 149%. The experts said the “beige box” of the mid-aughts is a harder sell now.

“The sterile beige spec home from the mid-2000s definitely feels dated. Buyers today respond to depth and personality but it has to be curated,” Polsky said. “We’re encouraging sellers to modernize with warmer neutrals, layered textures, and intentional color moments. ‘Safe’ used to mean blank. Now safe means thoughtfully designed. Homes that lack character tend to photograph poorly and sit longer.”

“Buyers want lighter, organic palettes with architectural texture and contrast,” Burrage weighed in. “We’re advising our clients who are building with us to keep interiors fresh and light strategically. A thoughtful design can materially impact buyer perception and final sales price.”

As millennials and Gen X become the primary buying force, they are rejecting the norms of what once was. The real estate experts both answered “yes” when asked if the market is seeing a permanent cultural shift in what “luxury” means.

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“Boomers selling older estates should strongly consider modernizing systems and aesthetics,” Burrage said. “Buyers are comparing them to newly built coastal homes engineered for climate durability and lower operating risk.”

“Boomers selling 2006-era estates need to understand that today’s buyers compare everything to new construction with modern infrastructure. Updating mechanical systems, improving energy performance and refreshing interiors before listing can dramatically improve positioning,” Polsky pointed out. “The American Dream hasn’t gone away, it’s simply become more intentional. Buyers want homes that support how they live, not just how they’re seen.”

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Page, Brin, Ellison, Thiel, Sacks — and now, Zuckerberg.

Meta CEO Mark Zuckerberg is the latest California billionaire heading for Florida, snapping up a massive waterfront mansion in Miami’s exclusive “Billionaire Bunker,” as Golden State lawmakers push a proposed 5% tax on the ultra-wealthy.

Zuckerberg and his wife, Priscilla Chan, are buying a newly built mansion on Indian Creek, one of the area’s most expensive enclaves. The deal has not been confirmed as closed, sources with knowledge of the transaction told The Wall Street Journal, but neighbors said Zuckerberg plans to move in by April — signaling a relocation rather than a vacation home.

“People like Zuckerberg plan three moves ahead. That billionaire tax chatter has a lot of Palo Alto owners doing real math. If you’re staring at a potential 5% hit tied to net worth, Florida becomes a business decision. And Indian Creek is the clearest signal you’re serious, because it’s built for privacy and control,” Troy Dean Home CEO Troy Ippolito told Fox News Digital in reaction.

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“This is a loud signal that South Florida is a primary market now. When someone at Zuckerberg’s level buys here, it changes buyer psychology overnight,” he continued. “If that tax actually moves forward, you’ll see the impact first at the very top, because there’s so little true trophy inventory.”

The nearly 2-acre property is estimated to be worth $150 million to $200 million, based on comparable sales, and the reported seller is a limited liability company tied to Jersey Mike’s Subs founder Peter Cancro.

Cancro cashed out big in 2024 when he sold a majority stake in Jersey Mike’s to Blackstone for $8 billion, including debt. His home sale to Zuckerberg was off-market, a common move for ultra-wealthy buyers seeking privacy.

Aerial views of the property show that it sits across Biscayne Bay and features a private dock, wraparound terraces, lush landscaping, a waterfront pool, charming blue shutters and other elaborate amenities. The estate joins Zuckerberg’s already extensive real estate portfolio in places like Lake Tahoe and Palo Alto in California, and Kauai, Hawaii.

“It’s one entrance, tightly controlled, and only about 41 homes. You’re minutes from Miami, but it feels isolated. If you’re a global name, and you want a truly private backyard, this is as close as it gets,” Ippolito said.

Meta responded after publication, telling Fox News Digital, “We do not have a comment on the WSJ reporting from yesterday.”

Some of Zuckerberg’s new neighbors on Indian Creek include Jeff Bezos, Tom Brady, Carl Icahn, Ivanka Trump and Jared Kushner, David Guetta, Julio Iglesias, Jaime Gilinski and Edward Lampert.

Zuckerberg’s move comes on the heels of other notable, longtime California-based billionaires who have solidified residency in South Florida in response to a proposed California wealth tax.

Though the initiative has not yet received the required 875,000 signatures to qualify for the November ballot, the proposal — backed by the Service Employees International Union–United Healthcare Workers West — would impose a one-time 5% tax on the net worth of California residents with assets exceeding $1 billion.

The tax would be due in 2027, and taxpayers could spread payments over five years, with additional costs, according to the California Legislative Analyst’s Office.

If voters approve the measure, anyone who was a California resident on Jan. 1, 2026, would owe the tax, according to the proposal’s language.

Many South Florida real estate agents have told Fox News Digital that since the new year, a fresh wave of buyer interest has flooded in from California, with increased calls and broker website traffic.

“There’s a few other very big founders and also tech giants and also venture capitalist firms, the heads of which I’ve also moved here,” luxury real estate broker Julian Johnston of The Corcoran Group previously said. “It was always a layover, one night, an event, but Miami’s changed a lot in the last 10 years. It’s culturally more interesting… They said they were quite happy to move here and then see what happens in the next few years.”

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“One client said, ‘You know, this could be like a $5 billion tax for me,’” he recalled. “So they’re moving because of that.”

“Florida feels predictable. You have a clearer tax picture, fewer hurdles, and a much easier day-to-day,” Ippolito weighed in. “A lot of buyers feel like California treats them like a target. Florida treats them like they belong here.”

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The Hamptons housing market just made a new splash, but the surge is not being driven by everyday homebuyers.

Instead, cash-rich Wall Street and tech executives are powering a boom in multimillion-dollar sales, pushing median prices to an all-time high even as overall sales activity softens, according to new data.

According to a new report from Douglas Elliman and Miller Samuel, Hamptons homes hit the highest median sales price on record at $2.34 million, up 25% year over year. The average sales price also rose 25% annually to $3.76 million.

“The catalyst is absolutely tied to capital markets,” Douglas Elliman’s Adam Hofer told Fox News Digital. “The Hamptons has always been a discretionary, wealth-driven marketplace. When Wall Street performs, when liquidity events happen in tech, when bonuses are strong, that money needs a place to land and for many high-net-worth buyers – that place is the Hamptons.”

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“That said, this isn’t just a speculative spike,” he said. “Inventory remains structurally constrained, especially south of the highway and in turnkey properties. Unlike the pre-2008 era, today’s buyers are largely cash-heavy and less leveraged, which makes this appreciation feel more sustainable.”

“So yes, Wall Street momentum fuels the top end, but limited supply and long-term lifestyle demand are what’s keeping values elevated.”

Luxury sales are doing the heavy lifting in the Hamptons, with sales over $5 million reaching a record high in the fourth quarter of 2025. Douglas Elliman internal data also shows property closings over $10 million were up 75% year over year, and there were four closings of $20 million or more in 2025, compared to just one the previous year.

“The luxury buyer is operating in an entirely different universe from the average homeowner. All cash transactions at $5 million and above signal confidence, liquidity and a long-term mindset. These buyers are less sensitive to interest rates and more focused on lifestyle, legacy and asset diversification,” Hofer said.

“In contrast, the middle market is highly rate-sensitive. A one-point swing in mortgage rates dramatically impacts affordability. But when you’re writing an $8 million or $15 million check in cash, rate volatility becomes background noise,” he said. “It highlights a divided market that’s becoming more pronounced nationally. Rate sensitivity is creating friction in the middle tier, while the top 10% of buyers continue to transact with relative ease. The Hamptons is simply a magnified version of what’s happening across the country.”

But inventory is tight. Despite a slight increase in listings across the area in the fourth quarter of last year, months of supply fell to 6.8, down 24% from 2024, while luxury months of supply also declined sharply to 16.4 months.

Buyers are reportedly competing hardest for ocean and waterfront properties, turnkey, renovated homes in prime neighborhoods such as Southampton, Sag Harbor and East Hampton.

“Construction timelines, labor costs and permitting uncertainties have made move-in-ready product a premium commodity,” Hofer noted. “Waterfront and properties with protected water views continue to command outsized demand, and that’s where buyers are willing to stretch the furthest. There’s a finite amount of waterfront in the Hamptons, and sophisticated buyers understand that scarcity.”

While not fully captured in the report, the early summer rental surge lines up with the data, as buyers are committing earlier, luxury confidence remains high, and seven-figure demand is not slowing.

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“Strong rental demand is often a leading indicator of buyer confidence. When high-end rentals lock in early and at premium rates, it signals that people want to be here and that the Hamptons lifestyle remains a priority,” Hofer pointed out.

“For buyers waiting for a significant price correction,” he said, “the rental market suggests that underlying demand hasn’t weakened. In fact, many renters ultimately convert to buyers after experiencing the market firsthand. Sitting on the sidelines in hopes of a dramatic pullback may mean competing later in an even tighter inventory environment.”

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For decades, purchasing a Florida condo was a leap of faith masked by palm trees and ocean views. But in the new year, the veil of secrecy has lifted.

Between a new mandatory digital transparency law and a landmark court ruling that handed a so-called “poison pill” to developers, the power dynamic in the Sunshine State has shifted dramatically.

“I think it’s definitely correcting,” Douglas Elliman Palm Beach agent Jessica Julian told Fox News Digital about the state of the condominium market. “I would say last year we saw more of these older buildings were hurting, not as many buyers for them. Everybody was kind of scared to dip their toes into an older building after what happened in Miami on Surfside. And so now that assessments are being paid and repairs are being done, we’re definitely seeing that correction.”

“I think momentum is probably the best word that we have. Things have stabilized. We are gonna move forward… And again, the demand here in South Florida is so strong,” MIAMI REALTORS Chief of Residential & Advocacy Danielle Blake also told Fox News Digital.

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The first major shift of 2026 includes provisions that took effect under House Bill 913, which requires associations with 25 units or more to have a dedicated, secure digital portal where prospective buyers can see a condo’s bank statements, reserve details and even structural reports of a building.

“The click of the button, you can go in there, you can look at all these documents – including the budget – before you make that offer,” Blake said. “We’re huge proponents of it. It brings transparency and accountability, and we continue to promote that.”

“It’s making the condo market more predictable. So condos that have delayed reserves or delayed issues with their building are seeing a lot more ongoing negotiations,” Julian noted, “where buildings that have thought ahead and have fully funded reserves, they have a competitive edge in the market.”

In Miami-Dade, 65% of active inventory consists of older condo buildings, and sales in the $200,000 to $400,000 range are up 21% year over year despite rising insurance costs and assessments, according to REALTORS data. The experts weighed in on whether buyers are being brave or just eager for a slice of paradise.

“I would like to say it’s all because of our advocacy work. I mean, transparency is really important, but I think it has to do more with market conditions. And in South Florida, it’s a very hot market. Everybody wants to move here. The weather is absolutely beautiful. People want to take advantage of that. And so this is really the last affordable inventory that we have, and they are moving in,” Blake explained.

“I am getting a lot of buyers that are eager to get down here in South Florida, but they’re very well-informed. They’re usually coming to me already doing their due diligence,” Julian added. “They might already have the buildings that they’ve pinpointed. They’ve researched the other ones, found out which ones seem a little weak on those reserve studies.”

The second major shift in Florida’s condo market is the recent Biscayne 21 court ruling, which set a legal precedent effectively granting minority holdouts, as few as 5% to 10% of owners, the power to block major redevelopments if the original declaration requires unanimous consent.

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Julian called the decision a “poison pill” for developers who were eyeing older, waterfront Miami buildings as prime targets for ultra-luxury conversions.

“The poison pill, which is [a] 100% buyout, it makes things very difficult. So they haven’t been pursuing those as much,” she said. “It’s too much unknown to try to do that, to change the condo bylaws, and try to take a building down that way. So I think it’s gonna change going forward as developers are going to look at buildings a lot more with scrutiny and patience.”

Julian dealt with buyout wars personally in late 2025 at Harbor Towers & Marina in West Palm Beach when two developers sued multiple owners caught in the crosshairs of a battle for control of the building.

“There are a handful of buildings out there that still have language in their condo bylaws that say 75 to 80% can terminate a building… So developers are most likely going to do their due diligence and they’re going to be looking towards those buildings first,” Julian said.

“I think this case really highlights the importance of reading the government docs,” Blake noted. “It’s really important for developers to check that and know what you’re getting into before you incorporate that into your plan.”

With her advocacy role in mind, Blake also offered advice on what fixes realtors may push for to ensure that one or two residents can’t prevent an entire community from escaping the financial burden of an older building: “Talk to local government, talk to the state. Everybody needs to be informed so they can come up with the right solution. And we would support that.”

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And while both experts agree that the two major changes in Florida’s condo market put an important emphasis on clarity and communication, Julian did share one warning about the future of the market environment.

“Greed is kind of taking place a little bit. So [buyers] are holding back until they get many more millions of dollars [from developer offers]. But what they don’t realize, that I see behind the scenes, is these developers are scooping up other buildings that are more affordable to them, that make more sense in pencil. And eventually we’re gonna be oversaturated,” she said.

“So if they are waiting, thinking that they’re going to get the ultimate payout, they might want to rethink that.”

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Three of the nation’s largest housing markets are seeing a sharp rise in the number of homes for sale, giving buyers more choices even as the overall U.S. housing market shows signs of cooling.

In January, 46 of the country’s biggest metro areas had more homes on the market than they did a year earlier. Seattle saw the biggest increase, with inventory jumping 32.4%.

Charlotte, North Carolina, followed at 28.6%, while Washington, D.C., ranked third with a 26.8% rise, according to Realtor.com’s January 2026 Monthly Housing Market Trends Report.

In Seattle and Charlotte, much of the inventory growth is being driven by homes lingering on the market longer rather than a surge of new sellers, Realtor.com Senior Economist Jake Krimmel told FOX Business.

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Homes in Seattle took about 15 days longer to sell than they did a year ago, while Charlotte homes remained on the market roughly 12 days longer. 

“[Washington], D.C., is a little different, where stronger new listing growth seems tied to uncertainty over the local job outlook,” Krimmel told FOX Business.

Seattle’s expanding supply is also being influenced by layoffs in the tech sector, according to Michael Orbino, a managing broker at Compass.

“Several companies, including T-Mobile, Microsoft and Amazon, are repositioning their workforces,” Orbino said in a statement. “This is not a large part of the inventory but often puts buyers in pause mode, which has the effect of slowing down absorption, which increases inventory.”

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Several other metro areas also saw significant increases in homes for sale.

Louisville, Kentucky, was up 25.6%, while Las Vegas and Indianapolis each rose 25.4%. Baltimore saw inventory climb 24.1%, San Jose increased 23.3% and Cincinnati rose 21%, Realtor.com reported.

Regionally, the West posted the largest year-over-year inventory gain in January, up 12.2%. The Midwest followed at 10.3%, with the South close behind at 10.1%. The Northeast continued to lag, with inventory rising just 6.6%, according to the report.

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Nationally, housing inventory is up 10% from a year ago, but the pace of recovery is slowing. Year-over-year inventory growth has declined for nine consecutive months, and new listings rose just 0.7% compared with last year, Krimmel said.

January inventory remained more than 17% below 2017 to 2019 levels, according to Realtor.com.

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“Even though January is the slow season for housing, it’s an important moment to take stock,” Krimmel added. “The data and trends coming in right now will set the stage for how the market might behave once things pick up in the spring.”

Sunshine, low taxes and luxury living continue to draw wealthy buyers to Florida — and one city in particular is reaping the rewards.

New housing data from GOBankingRates reveals the top five towns across Florida that have become the fastest-growing home-value markets, fueled by strong demand and limited supply.

In Palm Beach, homeowners have seen their property values more than double — with the average home now worth about $9.8 million. The data show a 1.5% increase over the past year and a 118.2% jump over five years, making Palm Beach the top spot for those seeking the highest return on investment.

“Previous cycles in Palm Beach were largely tied to broader economic expansions or speculative waves. What’s different this time is the permanence,” Douglas Elliman Exclusive Group’s Nick Malinosky told Fox News Digital. “Buyers today are relocating businesses, moving family offices, enrolling their children in local schools, and embedding themselves in the community.”

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“There’s also far more institutional-level capital and long-term wealth involved compared to prior booms. Inventory remains limited, land is finite and barriers to entry are high, which makes this cycle feel more structurally supported rather than momentum-driven,” he continued.

Malinosky echoed what many other Florida agents have said about Palm Beach’s future — expressing bullish optimism as a new wave of high-net-worth individuals establishes families and businesses there.

“Palm Beach today is not just benefiting from a migration wave, it’s benefiting from wealth consolidation. We’re witnessing a generational shift where capital is becoming more mobile, and Florida is a strategic destination for that capital,” he said.

But he also cautioned against misconceptions about Palm Beach’s headline numbers.

“When people see 100% growth, they often assume it’s uniform across the board, and that’s rarely the case. Appreciation in Palm Beach has been highly segmented. Trophy waterfront estates and prime in-town properties have seen extraordinary gains, while other categories may have appreciated at a more moderate pace,” Malinosky explained.

“Another nuance that gets lost is replacement cost. Construction costs, land scarcity and development restrictions have all risen dramatically,” he added. “In many cases, current values reflect the true cost of recreating these assets today, not just speculative appreciation.”

While Palm Beach caters to glitz and glamour, the remaining towns on the list are smaller, quieter parts of Florida — with average home values around $290,000 or less.

Wauchula — an agricultural city about 90 minutes southeast of Tampa — ranked second, with home values up 3.1% over the past year and 64.8% over five years.

Old Town, Florida, ranked third with 3.2% and 48% increases over the one- and five-year periods. The unincorporated community sits near the Suwannee River, west of Gainesville and just north of Manatee Springs State Park — offering more tropical nature than concrete jungle.

South Bay — the westernmost municipality in the South Florida metro area — ranked fourth, with home values rising 1.2% over the past year and 61.5% over five years, according to GOBankingRates. The town is known for its proximity to Lake Okeechobee and its laid-back, tight-knit community.

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Rounding out the list is Bell — a small town of fewer than 520 people nestled in North Florida’s forests, not far from Old Town. Home values average $290,622, up 1.2% over the past year and 61.5% over five years.

“Major markets like Miami or Tampa already experienced earlier, sharper growth curves and started from higher baseline values. When you measure percentage growth over five years, smaller or less established markets can sometimes show more dramatic jumps simply because they began at a lower price point,” Malinosky explained.

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Miami is now home to more million-dollar listings than New York — a sign the luxury housing market’s center of gravity continues to drift south.

According to Realtor.com’s December luxury housing report, Miami surpassed New York with 10,591 homes listed at $1 million or more, compared to New York’s 10,176 million-dollar listings.

New York held the top ranking for nearly a decade, and by late December, Miami solidified its lead as a long-term destination for wealth and housing demand.

“This is not a temporary surge, it’s an evolving market. The drivers supporting Miami’s growth are long-term: demographic trends favoring the Sun Belt, increasing international capital flows, and a deepening presence of finance, technology and global business infrastructure,” Douglas Elliman Vice Chair Dottie Herman told Fox News Digital.

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“That said, growth is not unlimited,” she said. “Insurance costs, climate considerations, and the risk of overdevelopment in certain submarkets will require disciplined planning and thoughtful execution.”

Miami’s luxury buyers are more likely to be cash buyers, international purchasers, retirees or second-home buyers. The report says these demographics are less sensitive to mortgage rates, school calendars and seasonal norms — keeping inventory levels higher yearlong.

Seasonality appears to favor the Magic City, as inventory stays more stable and allows developers to rebuild supply faster with a higher baseline. By contrast, New York luxury listings follow a more traditional cycle, with a spring surge and winter drop-off.

“Miami surpassing New York in million-dollar listings is more reflective of Miami’s expansion, versus New York’s weakness,” Herman said.

“Over the past decade, Miami has fundamentally broadened its definition of luxury. The market offers waterfront living, newer construction, resort-level amenities and a lifestyle component that’s directly embedded into the product. By contrast, New York’s luxury market is inherently finite and vertical, constrained by land, zoning and supply,” she explained.

New York’s market isn’t collapsing, but rather losing ground in a mature environment, as the report puts it. The Big Apple saw its housing market contract after the pandemic, driven by fewer new high-end listings, a slowdown in the city exodus and owners holding onto properties longer.

“Florida’s lack of a state income tax versus New York’s combined state and city tax burden represents a meaningful financial difference for high earners,” Herman said. “For many buyers, those savings translate directly into enhanced purchasing power or long-term capital preservation.”

Notably, 26.3% of Miami’s luxury demand comes from the New York metro area — more than the next eight source metros combined.

“New Yorkers have played a critical role as market shapers. A meaningful share of Miami’s luxury demand originates from the New York metro area,” Herman said. “This is not a broad-based migration of the entire New York population. It’s a targeted relocation of high-earning professionals working in fields like finance, tech and real estate, who have both the means and flexibility to choose where they live.”

Looking through a more national lens, luxury prices are stabilizing, with the top-tier threshold at $1.19 million, down slightly from the previous year. Luxury homes are taking longer to sell, with a median time of 88 days, reflecting cautious buyers and seasonal cooling.

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Overall, price gaps are wide — luxury homes range between two and five times the local median home price, depending on the specific market.

“The most accurate framing is this,” Herman said. “Miami is not replacing New York. It is joining New York as a co-capital of American luxury real estate. New York remains the cultural, financial and institutional anchor — Miami has emerged as the lifestyle center, the flexibility market and a global magnet for mobile wealth.”

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Buy now, pay later giant Affirm is looking to help renters break up housing payments in ways that align with their biweekly paychecks.

Affirm is piloting a program in partnership with financial technology platform Esusu that will allow renters to split their monthly rent in two equal payments every two weeks at 0% APR. There are no hidden or late fees, or compounding interest with this pilot program, either, according to Affirm.

Esusu helps renters build credit by reporting their on-time rent payments to major credit bureaus.  

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The pilot program is designed to give “eligible renters a flexible option for managing one of their largest monthly expenses,” Affirm said in a statement to FOX Business, calling it “a transparent option that offers flexibility for renters to align expenses with their paychecks.”

Affirm said it underwrites every application individually and only approves people for what it believes they can responsibly afford to repay. 

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“We’re approaching this use case thoughtfully and evaluating it alongside Esusu, which shares our focus on clear, consumer-first financial tools,” Affirm continued. 

The company didn’t confirm when the pilot program would be officially rolled out as it is still in the early stages of the pilot.

LendingTree’s chief consumer finance analyst Matt Schulz told FOX Business that this could be useful to those on a tight budget, but he cautioned that it is too soon to make a final judgment. 

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“This is just another example of how it is getting easier seemingly by the day for people to use BNPL to finance most anything,” Schulz said. 

He noted that this doesn’t appear to be a typical pay-in-four BNPL loan, which, if it was, he cautioned that there could be serious risks. For instance, Schulz noted that a consumer could still have people paying off the previous month’s BNPL loan for rent when the next month’s rent comes due. 

“That could get messy,” he said, adding that this financial tool can be really useful when used wisely, but “the danger with BNPL is when you have multiple loans that you have to manage.” 

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“That can get tricky, especially if you’re not used to managing credit,” he said. 

The other key thing with this payment method is that it is tied to a debit card or checking account, so it is critical that users have enough cash in that account to pay the bill. 

EXCLUSIVE: The realization hit fast — and the response was even faster.

As California’s proposed “billionaire tax” began gaining momentum late last year, some of the wealthiest people in the country didn’t wait for ballots, lawmakers or court challenges — they moved. “Then a couple more flew into Miami, bought properties and closed within seven days,” luxury real estate broker Julian Johnston of The Corcoran Group told Fox News Digital. “So then it was a tipping point.”

According to Johnston — who told Fox News Digital that he’s currently working with three billionaires to move them from California to South Florida — the urgency was driven by staggering potential losses.

“One client said, ‘You know, this could be like a $5 billion tax for me,’” he recalled. “So they’re moving because of that.”

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The chatter all started at Miami’s high-profile Art Basel fair in early December, Johnston said, and carried into many of the ultra-wealthy’s holiday celebrations on the island of St. Barts.

“They’re all dining and wining together and talking about this proposed tax. And then when the proposed tax gained speed, they then understood that they had to either rent or purchase something out of California to establish residency and reduce their net worth exposure to the proposed billionaire tax,” he explained.

“It’s a melting pot and they’re all friends. And that’s the thing. The tipping point was when four or five of them bought and three more were going into contract. The rest of them, all their friends are here. And they talked about the office buildings as well.”

“I think this happened very quickly, even for them,” Johnston continued. “Now that it’s… January, into 2026, it has slowed down a little bit… So if you didn’t buy or rent before the end of the year, it may be too late. It may apply to you no matter what now.”

While it has not yet qualified for the November ballot, the proposal — backed by the Service Employees International Union–United Healthcare Workers West — would impose a one-time 5% tax on the net worth of California residents worth more than $1 billion. The tax would be due in 2027, and taxpayers could spread payments over five years, with additional costs, according to the Legislative Analyst’s Office.

If the measure is approved by voters, anyone who was a California resident on Jan. 1, 2026, would owe the tax, according to the proposal.

When asked to describe the billionaires he’s working with, Johnston mentioned “Palo Alto guys” who haven’t spent much time in Miami before.

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“There’s a few other very big founders and also tech giants and also venture capitalist firms, the heads of which I’ve also moved here,” he said. “It was always a layover, one night, an event, but Miami’s changed a lot in the last 10 years. It’s culturally more interesting… They said they were quite happy to move here and then see what happens in the next few years.”

Florida famously has no state income tax for residents who live there at least 183 days out of the year, but Johnston explained what South Florida offers that other tax havens like Texas, Tennessee and Nevada can’t match.

“I think that you have to look at the culture amongst these VC firms and tech guys, that they like to be around each other… They’re already moving here, some of them are already here or have established residency here, they’re gonna spend more time and then they’re going to have the multiplier effect of their friends coming in to spend time with them,” he said.

“Miami has a very outdoor lifestyle similar to California,” Johnston further argued. “I think that the climate suits them. I think there’s a lot of security here. Politically it’s safe and economically, I mean, two of the largest capital projects in the country are in Miami right now.”

Beyond real estate, the California billionaires are aware they’re taking investment capital with them — and that lawmakers may not fully grasp how mobile wealth has become.

“That was a discussion point amongst some of them [in] the lunchroom. They were talking about the fact that, [if] enough of them move, it’s actually gonna cause change,” Johnston said. “It will financially change the landscape for the government’s budget… And they want reform… they want reform before they move back.”

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Across his 25-year career in luxury sales, Johnston agrees this current migration wave feels different in terms of the sheer scale of wealth and the speed at which high-net-worth individuals want to divest from the West Coast.

“I think Florida has a positive net migration for the next 20 years… it’s a boomtown,” he said. “Those big companies are going to push the state to spend more money on just activities and amenities and bring so many people from around the world that had never been to Miami before, because I do think it’s a [city of the future] for America.”

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A billionaire sports and real estate magnate has quietly completed the largest private land purchase in the United States in more than a decade — propelling him past other moguls to the top of the nation’s private landownership rankings.

Stan Kroenke — who owns the NFL’s Los Angeles Rams and England’s Premier League club Arsenal — purchased more than 937,000 acres of ranchland in New Mexico in a major off-market deal for property once owned by the heirs of Teledyne founder Dr. Henry Singleton, The Land Report first reported.

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The acquisition catapulted Kroenke from No. 4 to No. 1 on the 2025 Land Report 100, surpassing other billionaire landowners such as Ted Turner and John Malone. It also marked the largest single land transaction in the United States in more than a decade. Financial terms were not disclosed by either party.

With this deal, Kroenke now owns more land than any other private individual in the United States, surpassing the Emmerson family’s 2.44 million acres, Malone’s 2.2 million acres, and Turner’s 2 million acres.

A spokesperson for The Kroenke Group declined to comment to Fox News Digital.

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Kroenke’s portfolio now spans much of the American West and Canada, including 560,000 acres in Wyoming, 124,000 in Montana, the historic W.T. Waggoner Ranch in Texas, 800,000 acres in Nevada, and British Columbia’s Douglas Lake Ranch.

Born in Columbia, Missouri, Kroenke built his fortune through real estate development and professional sports, owning the Los Angeles Rams, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, and the Premier League’s Arsenal FC. He is married to Ann Walton Kroenke, an heiress to the Walmart fortune, and has expanded his land and ranching empire across the American West for decades.

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Hedge fund billionaire Ken Griffin appears to be expanding his business presence in Miami, adding to his already sizable real estate portfolio.

The Citadel founder partnered with Goldman Properties to purchase the 545Wyn office building for $180 million from Chicago-based developer Sterling Bay, according to the South Florida Business Journal.

Anonymous sources close to the deal told the outlet that Griffin is a partner in the purchase, though the listed buyer is Goldman Properties CEO Scott Srebnick.

Neither Citadel nor Goldman Properties immediately responded to Fox News Digital’s request for confirmation or comment.

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Two of Miami’s top-grossing real estate agents told Fox News Digital the move appears strategic and is unlikely to be a one-off purchase, but rather the beginning of a larger Wynwood land grab.

“This looks more strategic than operational. Brickell is about scale and visibility — Wynwood is about flexibility and culture,” the Corcoran Group’s Mick Duchon said. “Creative office [space] attracts a different workforce and tenant mix. Owning both allows to hedge across asset classes while controlling the ecosystems around where talent actually wants to work.”

“Given previous track records, it’s unlikely to be a one-off. It often marks the beginning of a longer-term vision rather than a single transaction,” Douglas Elliman’s Lourdes Alatriste added. “The endgame is balance. This portfolio touches luxury living, global business and cultural innovation. It reflects a belief in Miami not just as a place to invest, but as a city with multiple centers of gravity, each serving a different purpose yet reinforcing the whole.”

Located at 545 NW 26th Street in Miami’s Wynwood neighborhood, the 10-story building spans nearly 400,000 square feet, the property listing on Blanca Commercial Real Estate’s website states.

Wynwood has traditionally been a tech and creative hub in Miami, and the deal would mark Griffin’s first entry into the neighborhood after he spent hundreds of millions of dollars on properties in Star Island, Coconut Grove and Palm Beach.

“When an investor of his caliber enters a neighborhood, underwriting assumptions immediately change, cap rates compress, land pricing recalibrates, and long-term institutional capital feels safer stepping in. For Wynwood, this isn’t a short-term spike; it’s a structural re-rating of the district,” Duchon noted.

“Wynwood needed time to mature beyond its creative roots. Brickell offered certainty early on, such as financial infrastructure, zoning clarity and scale. Wynwood today is different,” Alatriste said. “It has stabilized, it’s proven demand for high-quality offices, and it’s become a place where people want to spend time, not just work. The timing reflects confidence that Wynwood has fully arrived.”

“Wynwood is Miami’s second most expensive office market behind Brickell, according to a report last year from CRE Daily. Real estate values are set by true mixed-use demand and the neighborhood’s ability to function as a real daily hub and not just a weekend destination,” ALP.X Group founder Sebastian Lüdke — who works with Goldman Global Arts — told Fox News Digital. “This transaction is just the latest example of the opportunity Wynwood presents to investors in the greater Miami market.”

Citadel is also breaking ground on its new 1.2 million-square-foot global headquarters tower in Miami’s Brickell financial district but currently holds a temporary lease at 830 Brickell Plaza, according to the company’s website.

Griffin moved his hedge fund from Chicago to Miami in 2022, and recently opened up about what led to that decision during an appearance at the America Business Forum in November.

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“I’ve lived in a failed city-state. I lived in Chicago for 30-some years. I had two colleagues who had bullets fly through their cars,” Griffin told Fox News’ Bret Baier.

“I had 25 bullet holes in the front of my building where I lived. You can’t live in a city awash [with] violent crime,” he continued.

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