07/22/2026
Good read!
The meaning of a $1 million home has changed. In 2005, 1.5M owner-occupied homes (2%) were worth $1M+, rising to 6.9M (8%) in 2024. In many markets, it reflects decades of home price appreciation—not luxury.
https://www.nar.realtor/news/economists-outlook/what-housing-data-teaches-us-about-mansion-taxes-housing-markets-and-timing