Millionaire, demi-billionaire growth boosts Texas real estate | Millionaire, demi-billionaire growth boosts Texas real estate | https://www.recenter.tamu.edu/news/newstalk-texas/?Item=22773 | 2019-07-12T05:00:00Z | 2019-07-12T20:00:00Z | BRENHAM – An unprecedented increase in millionaires and demi-billionaires in the United States has given rise to the purchase of new properties in Texas.
"There has been an uptick in the numbers of listings and sales of multimillion-dollar properties because of the increase in the wealthy migrating to our area," said Kelli Brennan, vice president of Coldwell Banker Properties Unlimited. "Many millionaires and demi-billionaires in the market are buying their second or third homes, and Texas is one of their desired destinations."
Nationwide, there are now 32 million millionaires, defined as those with a net worth of $1 million or greater, and there are approximately 2,000 demi-billionaires (those with more than $500 million in assets), which is a sharp increase since the 1980s.
Two of the top 15 locations in the U.S. for the ultra wealthy are Dallas-Fort Worth-Arlington and Houston-The Woodlands-Sugar Land. For more on the high-end home market in Texas, read "Livin' Large: Texas' Robust Luxury Home Market," by Center Senior Data Analyst Joshua Roberson.
| Coldwell Banker Properties Unlimited
| Texas
| Housing
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