T
he stock market's volatility and recession warnings might lead you to expect Americans to put off big-ticket purchases. However, the ultra-wealthy are still snapping up luxury real estate, despite the economic uncertainty. According to a recent report, the number of U.S. homes sold for $10 million or more has surged in major markets since February.

    In Palm Beach, Florida, $10 million-plus home sales jumped 50% between February 1 and May 1 compared to last year. Aspen, Colorado saw a 43.75% increase, while Los Angeles County and Manhattan experienced 29% and 21% upticks, respectively. Some investors view luxury real estate as a way to sidestep market volatility and preserve purchasing power.

    "The chance of taking a hit in the stock market is too high for the reward, especially with inflation," said Dan Herbatschek, an applied mathematician-turned-entrepreneur who's acquiring multiple investment properties. "Real estate is safer and less volatile." When inflation rises, property values often follow, driven by increased costs of materials, labor, and land.

    Billionaire David MacNeil has been expanding his footprint in Manalapan, Florida, with a $55.5 million purchase next to a site he already owns. He's unapologetic about the price tag, saying "smart money chases excellence." While real estate is often associated with the ultra-wealthy, regular Americans can also benefit from it – just ask homeowners who've seen their property values appreciate over time.