is proud to announce the launch of its fourth annual Red Paper,
an international market and wealth report encompassing the most recent data, research and insights on the global real estate market, consumer spending and luxury market trends in 2023, along with projections for 2024.
Centered around a chess theme, The Agency’s Red Paper comprehensively explores real estate activity in the more than 100 markets the brokerage serves across the U.S., Canada, Mexico, Central America, the Caribbean, and Europe, diving deep into shifts in home-buying patterns, buyer demographics, home design, and more.
“Entering 2024, we find ourselves in the most unique real estate market in half a century. Visually, the market resembles that of a chessboard, unfolding with precision, where calculated moves shape the course of the game,” said Mauricio Umansky
, CEO and Founder of The Agency. “In crafting our annual Red Paper, the virtues of strength, strategy, and patience echoed across our global markets, which witnessed an overall decline in sales. With some relief expected in 2024 and more changes on the horizon, we are pleased to present a comprehensive retrospective of the past year and a look at what lies ahead.”
Showcasing extensive data, graphs and insights spanning the global regions served by The Agency, The Red Paper presents a thorough research and analysis of last year’s market activity, a housing and mortgage outlook, commentary on buyer trends and a special Wealth Report, with highlights including:
Mortgage & Housing Outlook
Persistent, challenging and turbulent are a few words that describe the mortgage and housing market of 2023. Can the Fed get the inflation genie back in the bottle? Will the jobs market remain robust? Will mortgage rates continue to trend downward, while home prices continue to appreciate? Read what our partners at New American Funding
have to say about the year ahead.
Market Migration & Buyer Trends
The era of hybrid work continues to affect how buyers calculate their next move, while second homes and golden visas continue to draw wealthy buyers to the world’s destination markets.
Lifestyle, wellness, sustainability and turnkey living remain key drivers of the luxury market. Read the details in The Red Paper Wealth Report.
A New Generation of Buyers
Gen Z has entered the real estate game. The digitally native generation has stepped into the realm of homeownership driving notable changes in the luxury real estate market. Read about what piques their interests and how they approach homeownership as it is today.
Luxury Consumer Spending Trends
From high-end timepieces and fine wines to luxury cars and next-level home amenities, we interpret the motivations and meaning behind the behaviors of today’s high-net-worth luxury consumers in The Paradox of Resilient Luxury.
7 Design Trends to Watch
The 2023 conversation when it came to art, style, home design and amenities was nuanced and vibrant, with a complex array of trends that touched on a growing desire for self-expression, vivid storytelling, genuine human connection, a balance of old and new, high-tech and hand-hewn. Read about the seven trends that told the story of design and style in 2023.
”As we begin a new year, opportunity is plentiful. If there’s one thing The Agency has always excelled at, it’s rising to a challenge and seizing opportunities,” said Rainy Hake Austin
, President of The Agency. “2023 was a record year for growth as The Agency entered 29 new markets, including some of the world’s most coveted destinations and thriving metropolises. Market shifts are the norm in real estate, and we continue to do what we do best: guide our clients through every twist and turn.”
Read The Agency’s Red Paper in its entirety here.