PCMA Private Continues Nationwide Expansion with the Addition of Texas to our Lending Footprint Statewide between November 2020 and October 2021, nearly 90% more homes sold for $1 million or more compared with a year prior
Irvine, CA
|
February 01, 2022 08:00 AM Eastern Standard Time
PCMA, the pioneer and leading voice in Non-Bank Private Client Lending, announces the expansion of our High Net Worth Lending services to the state of Texas - Company NMLS ID: 237710. The expansion of Private Client Lending into Texas highlights the extraordinary growth of PCMA and the continued growth in the Texas luxury housing market.
The number of Texas estates that sold for $1 million or higher from November 2020 to October 2021 increased 89.6% compared to the previous reporting period to 11,980 sales, according to the 2021 Texas Luxury Home Sales Report. The annual report examining housing statistics for homes that sold for $1 million or higher across the state showed total sales dollar volume reached $19.9 billion, a 93.3% increase from the previous year. While the number of luxury home sales accounted for less than 3% of all homes sold in Texas, the dollar amount represented 13% of all residential sales dollar volume across the state.
“Everything is bigger in Texas, including the sales of luxury homes. With lower tax rates and more housing options it is easy to see why luxury home sales in Texas have increased by over 13% in the past year,” said John R. Lynch, CEO and Founder of PCMA. “Last year over 90% of the homes sold for a million or more were sold in Austin, Dallas and Houston totaling over $20 billion dollars in sales. With statistics like that, it is undeniable the migration to Texas is not a fallacy”
PCMA’s expansion into the Texas market comes on the heels of both internal and external growth of the company. PCMA continues to experience an unprecedented growth of high-net-worth originations at a record pace as we enter 2022 even in the face of rising interest rates. In recent months PCMA has added to its already impressive C suite bench, and is continuing to expand its direct and indirect origination channels.
“Luxury home sales in Texas are a key component of the real estate markets health. Only 3% of home sales were categorized as luxury, but that 3% represented 13% of all residential sales dollar volume,” said Lynch. “Our entrance into Texas with the full offering of our product suite will help High Net Worth households unlock liquidity, acquire additional assets, and lock in long term debt in a manner not available in traditional private banking relationships.”
PCMA is a vertically integrated Asset Origination and Convexity Management firm that specializes in Structured, Super Prime, Non-Agency, Private Client Credit. With its captive origination unit, PCMA has become the leading Non-Bank Private Client Lender in the U.S. What began as a linear venture has morphed into a vertical organization and industry leading incubator of ideas pushing the boundaries of innovation in high-capacity financial services. PCMA offers qualified individuals and institutions bespoke lending and advisory services across all major credit, and residential asset classes. PCMA is headquartered in Orange County, CA
Additional information is available at www.pcma.us.com
Contact Details
PCMA Private Client
Jason Jepson
+1 949-394-7033
Company Website
