Residential Real Estate Market Size (2024 - 2029)

Residential Real Estate Market Analysis

The Residential Real Estate Market size is estimated at USD 11.14 trillion in 2024, and is expected to reach USD 14.96 trillion by 2029, growing at a CAGR of 6.07% during the forecast period (2024-2029).

• The third quarter of 2022 saw an increase in economic headwinds; major economies are predicted to enter a recession in the upcoming period. However, certain nations, including those exporting commodities, are doing much better, indicating an uneven downturn. Further rate rises are projected through 2023 as central banks continue to take serious action to fight this. Occupiers are taking a more cautious approach now that decision-making processes are taking longer and, in some circumstances, standards are being lowered. These factors have decreased invest r confidence and transaction volumes in capital markets.
• The cost of newly listed homes in the United States has increased by 26.5% since March 2020 and 13.5% since the same period in 2021. Prices have cl bed by 9.1% in major urban regions like New York, Chicago, and Dallas/Fort Worth. The median active listing price in March 2022 was USD 405,000, an 8% rise from the median active listing price in the same month the previous year.
• The nationwide inventory of active listings fell by 18.9% due to the rising demand. This real estate statistic shows that more people are looking for homes than available homes for sale, a situation known as a seller's market, which raises prices and causes a shortage.
• Furthermore, government measures in promoting affordable housing stimulate market expansion. Governments in Australia, the United States, and Canada have planned strategies such as concessions for first-time buyers, veterans' subsidies, a golden visa, low-cost affordable housing schemes, and a reduction in transactional taxes, all of which are expected to boost growth in the residential real estate market. Even the low m mortgage interest rates fuel the residential real estate market in countries like the United States, Canada, India, and Australia.

Residential Real Estate Industry Segmentation

Residential real estate is an area developed for people to live. As defined by local zoning ordinances, residential real estate cannot be used for commercial or industrial purposes. A complete background analysis of the Residential Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.

The Residential Real Estate Market is segmented by type (apartments and condominiums and landed houses and villas) and geography (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America, and the Rest of the World). The report offers the market sizes and forecasts for the Residential Real Estate market in value (USD) for all the above segments.