Florida is resisting a nationwide decline in luxury-home prices, with purchases by billionaires including Jeff Bezos and Ken Griffin underscoring its appeal to wealthy buyers as other markets retreat from pandemic-era gains.

As of May, the typical luxury market still retained 59% of the price appreciation recorded during the pandemic, according to a June report. That period brought years’ worth of luxury-home price growth in roughly 24 months, with markets elsewhere still coming down from those gains.

The 59% figure measures how much of that earlier appreciation remained, rather than the change in total home values. It indicates that the typical luxury market had surrendered some of its pandemic gains without losing all of them. The available material does not provide a corresponding figure for Florida, limiting a direct numerical comparison.

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Billionaires including Bezos and Griffin have spent hundreds of millions on Florida homes. Those purchases illustrate demand at the highest end of the state’s housing market, although the material does not establish how broadly that demand extends across Florida or quantify its effect on luxury-home prices.

The available material does not identify tax advantages or lifestyle preferences as reasons for those buyers’ decisions. Nor does it offer competing views or an outlook for luxury-home prices.