Each Friday, Russ Anderson, the president and CEO of Briggs Freeman Sotheby’s International Realty and the CEO of Pacific Sotheby's International Realty, writes about luxury, trends, business and more in the advertising pages of the Mansion section of The Wall Street Journal. Below is his letter of October 23, 2026.
FROM THE PRESIDENT'S P.O.V.
I’ll give you the bottom line, first. The third quarter of 2026 brought a combination of headwinds the North Texas housing market hadn’t faced before — a Fed rate hike, energy-driven inflation and geopolitical uncertainty. The broad Dallas-Fort Worth market felt it. The luxury market, for the most part, didn’t.
Here are three things driving outcomes right now:
Properties that are distinctively positioned — exceptional architecture, turnkey condition, wellness amenities — are moving. Everything else is sitting.
Cash buyers are redefining the interest-rate story. Examples? The share of cash buyers for homes above $3 million in the Park Cities, Westlake and Preston Hollow regularly exceeds 30 to 45 percent. At the top of the market, interest rates are largely a footnote.
The wealth effect is real. More than 120 companies have relocated to North Texas in five years. The executive-level relocation pipeline — cash-capable buyers arriving with equity to deploy — is the most consistent source of new North Texans.
What does this mean for you? If you’re a seller, the market is open — but less forgiving than it was. A well-positioned, correctly priced home in a supply-constrained submarket is a strong asset to bring to market right now. If you’re a buyer, the $1 million to $2 million tier offers the most negotiating leverage in years. Above $3 million, act decisively when the right property appears: Supply in established enclaves remains critically constrained.
I have a much fuller take on our luxury market here, including the neighborhoods where luxury is holding strong. Explore it, then talk to the best experts: any agent at Briggs Freeman Sotheby’s International Realty. If you’ve been thinking about buying or selling, you couldn’t be in better hands.
Russ Anderson
President and CEO, Briggs Freeman Sotheby’s International Realty
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