- New-Home Buyer Can Save $25,000-Plus Over Decade Amid Lower Operating Costs, Realtor.com Says
May 14, 2026
Buyers of new US homes gain a financial advantage during the first decade of ownership, compared wit
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- New Homes Save Buyers $25,000 Over Ten Years, Offsetting Higher Upfront Costs
May 14, 2026
New England leads the country in new construction savings; in 16 metros, a decade of lower bills and repair costs more than covers the new construction price premium
AUSTIN, Texas, May 14, 2026 /PRNewswire/ -- Realtor.com® today released new research showing that buyers of newly built homes save an average of $25,335 over the first ten years of ownership compared to buyers of 20-year-old homes. The savings are driven by lower energy bills and fewer major repairs. The findings reveal a wide geographic divide, with New England states offering the greatest advantage and Southern states the least, and identify 16 metros where a decade of savings from new construction fully erases the price gap with existing homes.
New construction savings come in two forms: lower utility costs from more energy-efficient construction, and delayed replacement of major systems like HVAC, roofs, and water heaters. The analysis draws on data from Pearl, whose Pearl SCORE® rates every single-family home in the country across five performance pillars — Safety, Comfort, Operations, Resilience, and Energy. The analysis finds these benefits vary dramatically depending on where a home is located, how cold the winters are, and how stringent local building codes are.
To help buyers see these savings in action, Realtor.com is introducing interactive total cost of ownership content through a dedicated cost of ownership hub and experience on new construction listings, showing personalized ten-year savings estimates on utilities, roof replacement, HVAC, and water heater costs compared to a comparable resale home, giving buyers a clearer picture of the true cost of ownership before they contact a builder.
"Homeownership is not a one-time expense, and the ongoing costs of owning a home are where new construction really shines," said Joel Berner, senior economist at Realtor.com®. "Buyers who focus only on the listing price are missing a significant part of the financial picture."
The geographic pattern is stark. New England leads the country in new construction savings, with Massachusetts topping the list at $38,927 over ten years. Stricter building codes and harsher winters amplify the efficiency advantages of newer homes in these states. The South, despite being the most active new construction market in the country, sees smaller savings. Less demanding codes and milder climates mean the energy performance gap between new and existing homes is narrower there.
Top States for New Construction Savings
State 10-Year Total
New
Construction
Savings New
Construction
Premium Massachusetts $38,927 46.7 % New Hampshire $35,885 45.5 % Maine $34,763 48.3 % Rhode Island $34,641 46.6 % Vermont $33,998 25.9 %
In 16 of the 300 largest metropolitan areas, the ten-year savings from buying new fully cover the price premium over existing homes. These markets span a wide range of price points and are concentrated in the South and West, where new construction premiums are modest enough to fall within reach of long-run savings. Madison, WI and Bloomington, IN are the only Midwestern markets on the list.
Story Continues
Metros Where 10-Year New Construction Savings Exceed the Price Premium
Metro New
Construction
Median Listing
Price Existing Home
Median Listing
Price 10-Year Total
New
Construction
Savings San Diego-Chula Vista-Carlsbad, CA $1,226,693 $1,210,500 $29,243 St. George, UT $684,447 $683,984 $27,670 Salt Lake City-Murray, UT $652,982 $637,650 $27,670 Seaford, DE $580,619 $567,742 $22,075 Salem, OR $545,333 $517,467 $31,404 Madison, WI $534,284 $527,358 $25,983 Kennewick-Richland, WA $528,807 $516,383 $21,187 Billings, MT $525,477 $504,142 $28,520 Merced, CA $455,719 $429,644 $29,243 Jacksonville, FL $415,901 $411,583 $16,644 Bloomington, IN $402,325 $390,692 $28,836 Greenville-Anderson-Greer, SC $391,793 $390,098 $16,163 San Antonio-New Braunfels, TX $339,642 $329,083 $18,227 Hattiesburg, MS $317,817 $302,683 $25,997 Spartanburg, SC $315,248 $314,967 $16,163 Abilene, TX $310,873 $298,933 $18,227
"These savings estimates are actually conservative," said Berner. "Builder warranties frequently cover HVAC repairs in the early years, meaning new construction buyers often pay nothing out of pocket. And when you factor in the mortgage rate buydowns builders have been offering, which can translate to roughly $30,000 in savings over ten years, the total financial advantage of buying new becomes even more substantial."
The report also notes that builders have been more willing than existing home sellers to negotiate on price, giving buyers additional room to improve the long-run economics of a new construction purchase.
Methodology
Listing price data come from listings on Realtor.com® in the first quarter of 2026. Utility savings data come from estimates modeled by Pearl, through their Pearl SCORE®. Energy costs are generated by multiplying consumption by retail gas and electric prices, averaged at the state level. An escalation factor sourced from EIA is applied to the state-level costs to generate cumulative savings over time. Replacement and maintenance cost data come from estimates modeled by Pearl with these three components: lifespan and degradation, replacement cost, and maintenance cost. Each component is estimated at the zip code level and aggregated to the state level. National estimates are a weighted average of state estimates based on the number of single family homes. Degree-day estimates are sourced from EIA and totaled by adding heating degree days to cooling degree days.
About Pearl
Pearl is a ratings and standards company building the national standard for home performance. Pearl SCORE® rates every single-family home in the U.S. on a 1-to-1,000 scale across five pillars — Safety, Comfort, Operations, Resilience, and Energy — so buyers, sellers, and real estate professionals can understand how a home performs in daily life. Learn more at PearlScore.com.
About Realtor.com®
Realtor.com® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance, and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.
Media Contact: Mallory Micetich, press@realtor.comCision
View original content:https://www.prnewswire.com/news-releases/new-homes-save-buyers-25-000-over-ten-years-offsetting-higher-upfront-costs-302771486.html
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- New Homes Save Buyers $25,000 Over Ten Years, Offsetting Higher Upfront Costs
May 14, 2026 · prnewswire.com
New England leads the country in new construction savings; in 16 metros, a decade of lower bills and repair costs more than covers the new construction price premium AUSTIN, Texas, May 14, 2026 /PRNewswire/ -- Realtor.com® today released new research showing that buyers of newly built homes save an average of $25,335 over the first ten years of ownership compared to buyers of 20-year-old homes. The savings are driven by lower energy bills and fewer major repairs.
- NEW HOMES SAVE BUYERS $25,000 OVER TEN YEARS, OFFSETTING HIGHER UPFRONT COSTS
May 14, 2026
NEW ENGLAND LEADS THE COUNTRY IN NEW CONSTRUCTION SAVINGS; IN 16 METROS, A DECADE OF LOWER BILLS AND REPAIR COSTS MORE THAN COVERS THE NEW CONSTRUCTION PRICE PREMIUM AUSTIN, TEXAS, MAY 14, 2026 /PRNEWSWIRE/ -- REALTOR.COM® TODAY RELEASED NEW RESEARCH SHOWING THAT BUYERS OF NEWLY BUILT HOMES SAVE AN AVERAGE OF $25,335 OVER THE FIRST TEN YEARS OF OWNERSHIP COMPARED TO BUYERS OF 20-YEAR-OLD HOMES. THE SAVINGS ARE DRIVEN BY LOWER ENERGY BILLS AND FEWER MAJOR REPAIRS.
- Rents Drop Annually for 33rd Consecutive Month, With Further Renter Relief Likely, Realtor.com Says
May 13, 2026
Asking rents in the US fell annually for a 33rd successive month in April, with a strong rise in new
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- U.S. Rents Fall for 33rd Straight Month as Surge in New Multi-family Construction Points to Continued Renter Relief
May 13, 2026
The Northeast is showing the strongest construction momentum, while the West is falling behind its own historical norms
AUSTIN, Texas, May 13, 2026 /PRNewswire/ -- The U.S. rental market continues to favor renters, and a new wave of supply may keep it that way. According to the Realtor.com® April Rental Report, the national median asking monthly rent across the 50 largest metropolitan areas fell to $1,673 in April 2026, down $29, or 1.7%, year-over-year, marking the 33rd consecutive month of annual declines for 0-2 bedroom properties. At the same time, the robustness of new multi-family construction signals that rental supply relief could continue into the next several years.
While the national median remains $254 (17.9%) above pre-pandemic levels recorded in April 2019, it has fallen $92 (-5.2%) from its August 2022 peak. The multi-family construction pipeline, though pulling back from its historic peak, remains 11.4% above pre-pandemic norms, and a fresh surge in new groundbreakings suggests the downward pressure on rents is not over.
"Many renters have experienced meaningful relief over the past nearly three years, and although completions have slowed, forward-looking indicators are renter friendly," said Danielle Hale, chief economist at Realtor.com®. "New multi-family groundbreakings jumped nearly 20% in the first quarter of 2026, and units that break ground today typically reach the market within 12 to 24 months — so the pipeline points to continued downward pressure on rents well into 2027."
The National Multi-Family Pipeline Remains Strong The national multi-family construction pipeline remains well above historical norms, even as it pulls back from its peak. The number of multi-family constructions currently being built averaged 684,000 units on a seasonally adjusted annual rate in 2026Q1, down from a peak of 971,000 in 2024Q1, but still 11.4% above the pre-pandemic average of 614,000.
New construction activity picked up sharply in early 2026, with the rate of new multi-family groundbreakings jumping nearly 20% compared to a year ago and running 21.3% above pre-pandemic levels. While the annual completion rate of 470,000 trail behind a year ago, it is still 23% above the pre-pandemic norm. If that pace holds, the total U.S. rental housing stock is on track to grow to over 50.5 million units by 2027Q1, a level 8.5% higher than before the pandemic.
Rising Multi-Family Starts Signal a New Wave of Rental Supply on the Horizon
2026Q1 2025Q1 Avg. Q1 of 2017-
2019 %Change vs.
2025Q1 % Change vs. pre-
pandemic Under
Construction 684,000 765,000 614,000 -10.6 % 11.4 % Starts 462,000 386,000 381,000 19.7 % 21.3 % Completions 470,000 570,000 382,000 -17.5 % 23.0 %
More Multi-Family Units Are Coming, But Not Everywhere Equally The regional picture, however, is uneven. The Northeast saw new multi-family groundbreakings nearly double year-over-year in 2026Q1, and the number of newly completed multi-family units jumped 42.1%, the strongest growth of any region. That supply is already showing up in rent data: Boston, Mass. fell 2.9% and Philadelphia, Pa. fell 1.5% year-over-year in April. New York, N.Y. remains an exception, with rents still edging up 1.1% amid persistently tight conditions.
Story Continues
The West tells a more cautionary tale. New groundbreakings there fell to their lowest first-quarter level since at least 2017, and the number of newly completed multi-family units dropped 37.9% year-over-year, the only region where completions have fallen below pre-pandemic norms. Renters in Los Angeles, Calif. (-1.7%), Denver, Colo. (-3.4%), and Phoenix, Ariz. (-4.2%) are still seeing some relief today, but the slowdown in construction raises the risk that the trend reverses in the years ahead.
"The story isn't the same in every region, and that matters for where renters will feel relief next," said Jiayi Xu, economist at Realtor.com®. "The Northeast is already seeing new multi-family units come online and rents respond in some large markets. The West is telling a very different story. Renters there who are benefiting from lower rents today may find that window closing as fewer new multi-family units enter the market."
Northeast Sees the Highest YOY Growth in Starts and Completions
2026Q1 2025Q1 Avg. Q1 of 2017-
2019 %Change vs.
2025Q1 % Change vs. pre-
pandemic Northeast Under
Construction 144,000 155,000 132,000 -7.1 % 9.1 % Northeast Starts 105,000 58,000 52,000 81.0 % 101.9 % Northeast Completions 108,000 76,000 60,000 42.1 % 80.0 % South Under
Construction 279,000 314,000 227,000 -11.1 % 22.9 % South Starts 230,000 164,000 180,000 40.2 % 27.8 % South Completions 199,000 269,000 172,000 -26.0 % 15.7 % Midwest Under
Construction 87,000 92,000 72,000 -5.4 % 20.8 % Midwest Starts 49,000 56,000 35,000 -12.5 % 40.0 % Midwest Completions 63,000 64,000 41,000 -1.6 % 53.7 % West Under
Construction 174,000 204,000 182,000 -14.7 % -4.4 % West Starts 77,000 107,000 114,000 -28.0 % -32.5 % West Completions 100,000 161,000 109,000 -37.9 % -8.3 %
Looking ahead, rental stock growth is expected to be strongest in the Northeast (+1.1%) by 2027Q1, followed by the South (+0.9%), and the Midwest and West (both +0.7%).
"As we move into the spring and summer leasing seasons, we expect the median asking rent to tick up modestly on a monthly basis, which is the typical seasonal pattern," said Xu. "But given the sustained level of multi-family construction relative to pre-pandemic norms, year-over-year declines are likely to continue through 2026. Modest rent relief is still the story for most renters."
Rental Data – 50 Largest Metropolitan Areas – April 2026
Market Median Asking Rent (0-2
Bedrooms) YOY
Changes Atlanta-Sandy Springs-Roswell, Ga. 1,549 -3.4 % Austin-Round Rock-San Marcos, Texas 1,362 -5.3 % Baltimore-Columbia-Towson, Md. 1,806 -0.7 % Birmingham, Ala. 1,181 -1.2 % Boston-Cambridge-Newton, Mass.-N.H. 2,921 -2.9 % Buffalo-Cheektowaga, N.Y. NA NA Charlotte-Concord-Gastonia, N.C-S.C. 1,490 -2.6 % Chicago-Naperville-Elgin, Ill.-Ind. 1,797 -0.3 % Cincinnati, Ohio-Ky.-Ind. 1,324 0.8 % Cleveland, Ohio 1,192 -0.7 % Columbus, Ohio 1,174 -1.2 % Dallas-Fort Worth-Arlington, Texas 1,461 -3.2 % Denver-Aurora-Centennial, Colo. 1,749 -3.4 % Detroit-Warren-Dearborn, Mich. 1,246 -3.7 % Hartford-West Hartford-East Hartford, Conn. NA NA Houston-Pasadena-The Woodlands, Texas 1,382 -2.5 % Indianapolis-Carmel-Greenwood, Ind. 1,260 -1.8 % Jacksonville, Fla. 1,476 -2.8 % Kansas City, Mo.-Kan. 1,430 4.7 % Las Vegas-Henderson-North Las Vegas, Nev. 1,430 -2.7 % Los Angeles-Long Beach-Anaheim, Calif. 2,760 -1.7 % Louisville/Jefferson County, Ky.-Ind. 1,215 -1.5 % Memphis, Tenn.-Miss.-Ark. 1,103 -4.7 % Miami-Fort Lauderdale-West Palm Beach, Fla. 2,273 -2.1 % Milwaukee-Waukesha, Wis. 1,617 -0.3 % Minneapolis-St. Paul-Bloomington, Minn.-Wis. 1,494 -0.5 % Nashville-Davidson--Murfreesboro--Franklin, Tenn. 1,474 -4.8 % New Orleans-Metairie, La. NA NA New York-Newark-Jersey City, N.Y.-N.J. 2,920 1.1 % Oklahoma City, Okla. 911 -5.0 % Orlando-Kissimmee-Sanford, Fla. 1,663 -2.6 % Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. 1,740 -1.5 % Phoenix-Mesa-Chandler, Ariz. 1,441 -4.2 % Pittsburgh, Pa. 1,463 3.0 % Portland-Vancouver-Hillsboro, Ore.-Wash. 1,592 -1.7 % Providence-Warwick, R.I.-Mass. NA NA Raleigh-Cary, N.C. 1,433 -2.1 % Richmond, Va. 1,531 0.5 % Riverside-San Bernardino-Ontario, Calif. 2,051 -3.5 % Rochester, N.Y. NA NA Sacramento-Roseville-Folsom, Calif. 1,823 -1.5 % St. Louis, Mo.-Ill. 1,286 -0.8 % San Antonio-New Braunfels, Texas 1,156 -4.7 % San Diego-Chula Vista-Carlsbad, Calif. 2,669 -3.0 % San Francisco-Oakland-Fremont, Calif. 2,698 -2.0 % San Jose-Sunnyvale-Santa Clara, Calif. 3,306 1.3 % Seattle-Tacoma-Bellevue, Wash. 1,851 -1.7 % Tampa-St. Petersburg-Clearwater, Fla. 1,653 -4.3 % Virginia Beach-Chesapeake-Norfolk, Va.-N.C. 1,564 2.4 % Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va. 2,280 -1.8 %
Methodology Rental data as of April 2026 for studio, 1-bedroom, or 2-bedroom units advertised for rent on Realtor.com®. Rental units include apartments as well as private rentals (condos, townhomes, single-family homes). We use rental sources that reliably report data each month within the 50 largest metropolitan areas. Realtor.com® began publishing regular monthly rental trends reports in October 2020 with data history stretching to March 2019.
About Realtor.com® Realtor.com® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.
Media contact: Emily Do, press@realtor.comCision
View original content:https://www.prnewswire.com/news-releases/us-rents-fall-for-33rd-straight-month-as-surge-in-new-multi-family-construction-points-to-continued-renter-relief-302770006.html
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- U.S. Rents Fall for 33rd Straight Month as Surge in New Multi-family Construction Points to Continued Renter Relief
May 13, 2026 · prnewswire.com
The Northeast is showing the strongest construction momentum, while the West is falling behind its own historical norms AUSTIN, Texas, May 13, 2026 /PRNewswire/ -- The U.S. rental market continues to favor renters, and a new wave of supply may keep it that way. According to the Realtor.com ® April Rental Report, the national median asking monthly rent across the 50 largest metropolitan areas fell to $1,673 in April 2026, down $29, or 1.7%, year-over-year, marking the 33rd consecutive month of annual declines for 0-2 bedroom properties.
- U.S. RENTS FALL FOR 33RD STRAIGHT MONTH AS SURGE IN NEW MULTI-FAMILY CONSTRUCTION POINTS TO CONTINUED RENTER RELIEF
May 13, 2026
THE NORTHEAST IS SHOWING THE STRONGEST CONSTRUCTION MOMENTUM, WHILE THE WEST IS FALLING BEHIND ITS OWN HISTORICAL NORMS AUSTIN, TEXAS, MAY 13, 2026 /PRNEWSWIRE/ -- THE U.S. RENTAL MARKET CONTINUES TO FAVOR RENTERS, AND A NEW WAVE OF SUPPLY MAY KEEP IT THAT WAY. ACCORDING TO THE REALTOR.COM ® APRIL RENTAL REPORT, THE NATIONAL MEDIAN ASKING MONTHLY RENT ACROSS THE 50 LARGEST METROPOLITAN AREAS FELL TO $1,673 IN APRIL 2026, DOWN $29, OR 1.7%, YEAR-OVER-YEAR, MARKING THE 33RD CONSECUTIVE MONTH OF ANNUAL DECLINES FOR 0-2 BEDROOM PROPERTIES.
- What Are Wall Street Analysts' Target Price for News Corporation Stock?
May 12, 2026
New York-based News Corporation (NWSA) is a media and information services company that creates and distributes authoritative and engaging content, and other products and services for consumers and businesses. Valued at a market capitalization of $15 billion, the company operates through Digital Real Estate Services, Dow Jones, Book Publishing, News Media, and Other segments.
NWSA shares have lagged behind the broader market over the past year, falling 3.7% compared to the S&P 500 Index ($SPX) 31% surge. Moreover, in 2026, the stock has grown 3.4%, lagging behind the SPX’s 8.3% rise as well.
More News from Barchart
Dear D-Wave Quantum Stock Fans, Mark Your Calendars for May 12 Berkshire Hathaway Just Upped Its Stake in Sumitomo Stock. Greg Abel Says It’s Holding for the Long Term. Stocks Settle Higher on Strong Earnings Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today!
Focusing on its industry benchmark, the State Street Communication Services Select Sector SPDR ETF (XLC) has risen 18.9% over the past year, outperforming the stock. In 2026, however, XLC declined 1.8% and has lagged behind the stock.www.barchart.com
On May 7, NWSA stock rose 3.2% following the release of its Q3 2026 earnings. The company’s revenue rose 8.8% from the prior year’s quarter to $2.2 billion and surpassed the Street’s estimates. Moreover, its adjusted EPS came in at $0.21, also surpassing Wall Street’s forecasts.
For the current year, which ends in June, analysts expect NWSA’s EPS to rise 3.4% to $6.61 on a diluted basis. The company’s earnings surprise history is solid. It surpassed the consensus estimate in each of the last four quarters.
Among the nine analysts covering NWSA stock, the consensus is a “Strong Buy.” That’s based on eight “Strong Buy” ratings and one “Hold.”www.barchart.com
The configuration has grown more bullish over the past month.
On Feb. 9, Citigroup analyst Jason Bazinet maintained a “Buy” rating for NWSA stock and lowered its price target from $40 to $39.
NWSA’s mean price target of $35.57 indicates a premium of 31.7% from the current market prices. Its Street-high target of $41 suggests a robust 51.8% upside potential from current price levels.
On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
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- Realtor.com® Identifies 12 Emerging Luxury Markets Gaining High-End Ground
May 12, 2026
Fayetteville, Ark., and Durham, N.C., anchor a construction-driven luxury surge as national high-end pricing firms for spring
AUSTIN, Texas, May 12, 2026 /PRNewswire/ -- While the traditional coastal powerhouses of New York and California continue to anchor the U.S. luxury market, a new tier of high-end activity is taking hold in mid-sized metros across the country. The Realtor.com® April Luxury Housing Report highlights 12 emerging luxury markets where the seven-figure segment is expanding rapidly, often outpacing the national rate of inventory growth.
The national luxury threshold (90th percentile) reached $1,274,423 in April, up 2.0% from March. Although pricing remains 1.9% below year-ago levels, marking the 25th consecutive month of year-over-year decline, the stabilization of the national entry point is occurring alongside the aggressive scaling of luxury inventory in transition markets like Fayetteville-Springdale-Rogers, AR (+37.7% YoY) and Durham-Chapel Hill, NC (+23.7%).
"We are seeing a fundamental shift in where luxury is moving. The real story this spring isn't found in the established coastal cores, but in these 12 emerging markets that are actively transitioning into luxury markets," said Anthony Smith, senior economist at Realtor.com®. "These are places where luxury has gained significant depth and momentum. Whether it's driven by corporate relocation in the Southeast or the desire for acreage and privacy in the Hudson Valley, these markets are offering a new value proposition for the high-end buyer that balances lifestyle with a slightly more accessible entry point than the national luxury floor."
National Luxury Overview: April 2026
Pricing April 2026 Monthly Change YoY Change Luxury Threshold 90th Percentile $1,274,423 2.0 % -1.9 % High-End Luxury Threshold 95th Percentile $2,003,139 0.3 % -5.9 % Ultra Luxury Threshold 99th Percentile $5,711,785 -1.0 % -3.7 % Million-Dollar Listing Share 13.5 % -0.4pp -0.6pp
High-End Emergence: Construction vs. Appreciation
To identify these markets in transition, Realtor.com® looked for metros with a meaningful volume of million-dollar listings (200–500 annually) where at least 10% of all inventory is priced above $1 million. The resulting list of 12 markets reveals two distinct drivers of luxury growth: new development and the appreciation of legacy estates.
In fast-growing hubs like Fayetteville, AR (41.3% new construction share) and Provo-Orem, UT (36.8%), the luxury segment is being actively created by builders to meet the demands of high-income professionals. Conversely, in markets like the Hudson Valley's Kiryas Joel-Poughkeepsie-Newburgh metro, growth is driven by the prestige of existing equestrian farmlands and historic enclaves.
Story Continues
"The drivers of this emergence vary by region," Smith added. "In the Research Triangle and Northwest Arkansas, builders are the primary engine, purpose-building luxury to meet modern customization demands. However, in places like Santa Fe or the Hudson Valley, the growth is more rooted in the appreciation and re-entry of existing homes into the million-dollar tier. In the Hudson Valley specifically, we're seeing a quiet ascent of estate-driven communities like Tuxedo Park and Millbrook, where privacy and land are the primary amenities, attracting buyers who want an alternative to the density of New York City."
Top Emerging Luxury Markets
Rank Area 10% Most
Expensive
Listings Start
at: Million-Dollar
Listing Count
YoY Share of New
Construction
(Luxury) Share of Million-Dollar
Listings USA $1,274,423 0.6 % 18.1 % 13.5 % 1 Fayetteville-Springdale-Rogers, Ark. $1,017,305 37.7 % 41.3 % 10.6 % 2 Durham-Chapel Hill, N.C. $1,239,750 23.7 % 30.3 % 16.1 % 3 Santa Fe, N.M. $2,736,250 20.7 % 12.4 % 40.3 % 4 Colorado Springs, Colo. $1,003,594 17.8 % 14.7 % 10.4 % 5 Knoxville, Tenn. $1,024,042 16.0 % 22.2 % 10.3 % 6 Asheville, N.C. $1,497,500 8.9 % 17.6 % 18.1 % 7 Provo-Orem-Lehi, Utah $1,299,737 8.8 % 36.8 % 15.3 % 8 Kiryas Joel-Poughkeepsie-Newburgh, N.Y. $1,295,000 6.7 % 12.9 % 14.3 % 9 St. George, Utah $1,500,000 6.4 % 13.1 % 22.0 % 10 Savannah, Ga. $1,028,400 4.5 % 23.0 % 10.4 % 11 Hilton Head Island-Bluffton-Port Royal, S.C. $1,971,050 1.0 % 14.3 % 22.5 % 12 Portland-South Portland, Maine $1,649,950 0.4 % 14.2 % 21.4 %
(Metropolitan areas where the average monthly million-dollar listing count over the past 12 months was between 200 and 500, the median listing price was below $1,000,000, and at least 10% of active listings were priced at $1 million or above. Ranked by year-over-year growth in million-dollar listing count.)
The New York and Miami Dynamic New York City reclaimed the top spot for million-dollar listing counts (11,580) over Miami (10,373), a reflection of the city's well-established spring inventory surge. Despite the monthly flip, Miami's trajectory remains structurally changed, with an inventory base that has tripled since early 2022, proving that even as seasonal patterns return, the geographic footprint of U.S. luxury has permanently expanded.
Methodology
All data in this report is sourced from Realtor.com® listing trends as of April 2026, reflecting active inventory of existing homes, including single-family residences, condos, townhomes, row homes, and co-ops. Listings reflect only those provided by MLS platforms to Realtor.com via a listing feed. New-construction listings are excluded unless actively listed on participating MLSs.
Luxury segmentation is based on market-specific price percentiles, with the 90th percentile representing entry-level luxury, the 95th percentile marking high-end luxury, and the 99th percentile indicating ultraluxury. All calculations are based on listing prices, not final sales prices.
Metropolitan and micropolitan areas are defined using the Office of Management and Budget's OMB-2023 delineations, with Claritas 2025 household estimates used for relative comparisons. Where appropriate, we limited analysis to metros or micros with a minimum threshold of active million-dollar listings on average over the past year to ensure meaningful comparisons.
Historical listing trend data extends to July 2016, but year-over-year comparisons in this report use March 2025 as the baseline.
Luxury by the Numbers
90th percentile = Entry-level luxury (top 10% of prices)
95th percentile = High-end luxury
99th percentile = Ultraluxury (often rare or custom properties)
About Realtor.com®
Realtor.com® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.
Media contact: Emily Do, press@realtor.comCision
View original content:https://www.prnewswire.com/news-releases/realtorcom-identifies-12-emerging-luxury-markets-gaining-high-end-ground-302768628.html
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