Real Estate Housing Market Predictions: March 2024

This edition is all about one of real estate’s favorite audiences - the luxury buyer. In fact, Audience Town’s consumer data reveals that in 2024 the wealthiest individuals are far more likely to move homes because they can transact in cash, can rent for more money, or already have substantial home equity.  Notably, the affluent demographic is projected to be 40% more inclined to purchase another home this year and 2x as likely to sell their current residence. 

42% of home-owners today don’t have a mortgage and don't need financing to move. Many purchase in cash, move when they want, rent in premium new buildings, and generally own $1M+ homes.

Some more fun facts about these movers + shakers? 

  • WHERE THEY LIVE: We all know about coastal elites, but we are also seeing activity in the upper midwest, in the areas around Salt Lake City and Des Moines, and Denver among others.
  • HOW TO REACH THEM: Apple TV, and legacy media like WSJ, PBS, FOX, and HGTV
  • PETS: 50% have a very large dog, yes, you heard us correctly. 
  • OCCUPATION: 2x more likely to hold C-Suite or management positions, predominantly in finance, engineering, software, and healthcare.
  • HOBBIES: Love working out, yachting, and outdoor sports like skiing, tennis, and golf
  • MISC: They have kids, travel multiple times a year, (often internationally),  and probably have a private elevator

It’s all in the details, folks. 

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Find out three bold predictions about real estate consumers in 2024.