Houston’s luxury real estate market has seen unprecedented momentum since repercussions from the COVID-19 pandemic began draining the inventory of lower-priced homes.
While Greater Houston’s luxury market saw its first decline in two years in June, there is no shortage of $1 million-plus homes in the metro.
According to LendingTree, 2.4% of Houston homes are worth $1 million or more. The personal finance platform analyzed U.S. Census Bureau data to determine which of the country’s 50 largest metros have the highest share of million-dollar homes. Houston ranked No. 17 on the national list.
However, compared to other metros in the Lone Star State, Houston ranked No. 2 for luxury homes.
Austin is ranked first on the list of Texas metros, with 3.51% of homes in the area valued at $1 million or above.
Nationally, Austin ranked No. 12, followed by Dallas at No. 20 and San Antonio at No. 36.