AI boom heats up as wealthy buyers drive demand for high-end homes across US

The briefing

Affluent home shoppers, heavily boosted by stock market gains from the artificial intelligence boom, are driving demand for luxury properties across the U.S. While the broader housing market remains sluggish due to high mortgage rates, sales of high-end homes are outpacing middle-market properties in many major metro areas. Cities like San Francisco and Oakland are seeing significant surges in luxury sales as tech employees anticipate potential initial public offerings.