After six months of signals, shifts, and surprises, we’re ready to share what we’ve learned — and what’s next. The Agency is proud to debut our first-ever Red Paper Mid-Year Report, delivering a precise, expert-informed assessment of wealth dynamics, market shifts, and buyer trends shaping real estate at the midpoint of the year. 

Drawing on intelligence from The Agency’s global network of experts, the report delivers the ground-level insight and forward-looking analysis that today’s buyers, sellers, and investors need to make confident decisions in a complex global market.

“We are seeing some of the most consequential shifts in buyer behavior and market dynamics in recent memory,” said Mauricio Umansky, CEO and Founder of The Agency. “This report gives our clients and agents a precise, real-time examination on where the market stands and, more importantly, where it is headed.”

“A great deal can change in six months, and our mid-year report reflects that,” adds Rainy Hake Austin, President of The Agency. “The Agency has built its reputation on staying ahead of the market, and this mid-year report is a direct extension of that commitment. It gives our agents the intelligence they need to guide their clients with confidence through the rest of 2026 and beyond.”

Read the Red Paper Mid-Year Report  See a summary of the report’s articles below. Wealth Transfer and the Multi-Generational Compound

Trillions in real estate are moving to Gen X and Millennials. We examine how that generational shift is producing a new class of buyers seeking properties that serve as long-term vehicles for family wealth preservation and interpersonal connection.

The Billionaire Effect

When ultra-high-net-worth buyers enter a previously quiet market, the ripple effects are swift and lasting. We explore this phenomenon through case studies from our agents in markets around the world. 

The New Climate Reality

Seasonal migration is becoming permanent relocation. This report examines the rise of temperate, climate-resilient destinations, zooming in on the Caribbean, Mexico and Aspen as three of the most compelling beneficiaries of this shift.

Feeling the Squeeze for “Affordable” Luxury

The $1M to $3M buyer is navigating a market that has yet to deliver on its promise of relief. We unpack why the middle-market squeeze persists and where discerning buyers are finding value, with a sidebar on emerging opportunities in markets including Canada and Madrid in Spain.

Cross-Border Buying and Emerging Visa Hubs

Ancestry visas, residency-by-investment programs, and a weaker U.S. dollar are converging to create a notable window of opportunity, both for foreign buyers drawn to U.S. assets and for Americans exploring ownership abroad.

The New Guard

The “AI-Money” generation is reshaping the luxury market. This report profiles the tech-native millennial buyer and the distinct values, priorities, and expectations they bring to high-end real estate.

Read the Red Paper Mid-Year Report