See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox<\/a> <\/p>\nHe highlighted Miami, the Hamptons, and high-end New York properties, including penthouses, as markets benefiting from the wealth created by the AI boom. <\/p>\n
However, San Francisco remains one of the strongest examples of the AI wealth effect. “It is not stopping,” Reffkin said, adding that competition for expensive homes has reached levels “that we’ve never seen.” <\/p>\n
At the time of writing, COMP was down over 3%. <\/p>\n
Luxury Homes Defy Housing Slowdown <\/p>\n
Reffkin said the U.S. housing market is increasingly divided by price, adding that sales of homes priced between $100,000 and $250,000 are down 10%, while sales of homes above $1 million are up 4%. <\/p>\n
“The low end is more mortgage-rate sensitive, the high end is more wealth-effect sensitive,” he said, adding that wealthier buyers are benefiting from record stock-market gains. <\/p>\n
“They’re using all cash. And when the stock market’s at all-time highs, they have that purchasing power.” <\/p>\n
U.S. Existing Home Sales Down 2% <\/p>\n
Meanwhile, existing-home sales, a measure of completed sales of previously owned homes, fell 2% month-on-month in August to an annual rate of 3.98 million, the lowest since June 2025, while housing inventory rose 3.2% from July to 1.62 million homes, according to the National Association of Realtors data released Thursday. <\/p>\n
The median home price increased 1.6% from last year to $429,100, marking the 38th straight month of annual price gains. <\/p>\n
Mortgage rates rose this week, with the 30-year rate climbing to 6.76% from 6.71% and the 15-year rate rising to 6.09% from 6.04%. <\/p>\n
Retail sentiment surrounding COMP on Stockwits turned ‘bullish’ from ‘neutral.’ The stock has declined around 1.7% so far in 2026. <\/p>\n
Also read: BCRX Stock Heads For Fifth Straight Day In The Red \u2013 RBC Capital Says BioCryst Faces A ‘Challenging Near-Term Outlook’<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"Reffkin said sales of homes priced between $100,000 and $250,000 are down 10%, while sales of homes above…\n","protected":false},"author":2,"featured_media":459643,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[181288,72646,181287,101,103,102,104,106,105],"class_list":["post-459642","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-francisco","tag-expensive-homes","tag-luxury-homes","tag-robert-reffkin","tag-san-francisco","tag-san-francisco-headlines","tag-san-francisco-news","tag-sf","tag-sf-headlines","tag-sf-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/459642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=459642"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/459642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/459643"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=459642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=459642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=459642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}