The Luxury Home Market

ENGEL & VÖLKERS TREND REPORT
Many North Americans have begun feeling the effects of an economic downturn, with the housing market starting to feel the impact and reverting back to more normalized conditions and, in some cases, a cool down after more than two years of unprecedented market conditions. While real estate professionals continue to navigate through the balance of price changes, interest rates, and the continuous need for individuals to buy and sell, the luxury market is taking on new life.
Engel & Völkers Americas conducted exclusive market research of likely homebuyers across North America to understand the current attitude, mindset, and intentions of luxury consumers who plan to buy a home in the next few years.
The results indicate that the luxury homebuying market will continue to thrive, with the market being driven by… millennials. This represents a significant shift as baby boomers have long driven both the buying and selling sides of the luxury real estate market and as such, is also indicative of a massive transfer of wealth and assets, including property, from boomers to millennials.
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CHICAGO AGENT MAGAZINE | OCTOBER 10, 2024

We are thrilled to announce that we've been nominated for the 2024 Chicago Agents' Choice Awards! This recognition means so much to us, and we would love your support. Voting is now open, and your voice matters! Click the link below to cast your vote or go to chicagoagentmagazine.com and support my nomination! Thank you for being a part of this journey with us. Voting ends on October 18th!

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DESIGN CHICAGO 2024 | SEPTEMBER 25, 2024

Today, I had the pleasure of joining a panel discussion at Design Chicago 2024 hosted by Poggenpohl and Aspire Design & Home at the stunning Poggenpohl Showroom inside Chicago's iconic Merchandise Mart. The panel included design heavyweights like Joan Craig (Craig & Company), Steve Kadlec (Kadlec Architecture & Design), and Leah Bolger (Leah Bolger Design), and was moderated by Jennifer Quail from Aspire Design & Home.

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CHICAGO AGENT MAGAZINE | JUNE 7, 2024

Pride may look a little different this year. Many businesses appear less dedicated to the rainbow, worried about consumer backlash. So, perhaps more than ever, Engel & Völkers’ (EV) annual Pride Summit offered a necessary space to commune, proudly.

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THE REAL DEAL | JUNE 6, 2024

Two longtime commercial real estate executives in Chicago are trying something new. Matt Pistorio’s office leasing brokerage Madison Rose added a marketing and design professional. And a pair of luxury residential agents jumped to Engel & Völkers from Coldwell Banker.

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CHICAGO AGENT MAGAZINE | MAY 30, 2024

Teammates Craig Hogan and Rudy Zavala are transitioning to Engel & Völkers (E&V) Chicago, where they will serve as luxury real estate advisors. Previously, Hogan and Zavala were brokers with the GC Luxury Group at Coldwell Banker Realty, focusing on neighborhoods throughout...

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YAHOO FINANCE | MAY 37, 2024

The Great Wealth Transfer — wealth transferred from boomers to younger generations such as millennials — through 2045 will total $84.4 trillion, according to a Cerulli report. A whopping $72.6 trillion in assets will be transferred to heirs, while $11.9 trillion will be donated to charitable organizations.

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