RESIDENTIAL REAL ESTATE MARKET IN THE UNITED STATES SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

 The residential real estate industry in the US is currently valued at USD 2.48 billion and is anticipated to grow at a CAGR of more than 2.10% over the next five years. The COVID-19's impact on the market was very significant. Residential real estate in the nation is in the recovery stage despite the pandemic problem as the country's sales soon returned to pre-pandemic levels.

The US real estate market has been booming ever since the COVID-19 outbreak began. Many buyers took advantage of the low interest rates to restructure their mortgages, move, or start their home ownership journey. As a result, property sales spiked in the second half of 2020 and have remained greater than they were before to the epidemic. Home prices had been rising prior to the pandemic, but in 2020, with demand at an all-time high, the Freddie Mac House Price Index showed a stunning 11.3% increase.

As a result of the "race for space" among purchasers in the beginning of 2021, roughly 60% of properties were sold above their quoted prices. 

When compared to other major cities, the property market in the Golden State is among the most fierce. The price of a home in San Jose, Sunnyvale, Santa Clara, or San Francisco would exceed USD $1,000,000 for buyers.

Compared to single-family dwellings, the demand for multifamily housing soared. According to the seasonally adjusted annual rate (SAAR), housing starts for single-family homes totaled 1.11 million units in the second quarter of 2021. Housing starts for multifamily homes totaled 467,000 units, which is 55% more than the same quarter in the year prior (2020) and 9% more than the previous quarter in 2021.

The pandemic had an unfavourable effect on residential real estate. The housing market is resilient despite this upheaval thanks to rising homeownership in this industry.


Additionally, there were more than 142,406 housing units available to satisfy consumer demand in the fourth quarter of 2021, with more than 89% of housing units being occupied by owners and renters. Additionally, the majority of the sales in the industry are generated by the nation's elderly and middle-aged residents. For instance, in the country's four quarters of 2021, adults between the ages of 45 and 65 made up more than 70% of the homeownership rates.

Read The Full Market Report













































Comments

Post a Comment

Popular posts from this blog

Shipping Containers Market Projected to Reach USD 12.77 Billion by 2030, Driven by E-commerce Growth and Cold-Chain Expansion

  Introduction   The global shipping containers market is experiencing steady growth, with projections indicating an increase from USD 10.27 billion in 2025 to USD 12.77 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.46%. According to Mordor Intelligence Shipping Containers Market Report , this expansion is primarily fueled by the surge in e-commerce activities, the need for efficient cold-chain solutions, and advancements in intermodal transportation.   Key Trends   E-commerce Fulfillment   The rapid growth of e-commerce has significantly impacted on the shipping containers market. The demand for faster and more efficient delivery systems has led to increased use of standardized containers, particularly 40-foot units, which accounted for 52.64% of the market share in 2024.   Cold-Chain Expansion   The pharmaceutical and food industries' need for temperature-controlled transportation has driven the demand for refrigerated c...
Read more

DATA CENTER POWER MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

  The IT industry requires on-premise private data storage and hyper-scale data centres for its operations, depending on the size of the organization. Additionally, the adoption of cloud storage has increased over the years due to growth among SaaS providers, enabling cloud storage providers to expand their capacities. Hence, the increasing data load requires more power. This creates a requirement for efficient power solutions in IT applications. According to the Data Center Survey recently published by Vertiv, 98% of the participants voted for IT utilization to be above 20% by 2025. This indicates that IT companies are focusing on deploying an efficient power source for their data centres and increasing their utilization rate. Cloud storage providers, like AWS, Microsoft, and Google, are expanding their storage capabilities to offer more efficient workflows in the cloud. These companies are making investments in hyperscale deals. For instance, in June last year, Amazon Web Service...
Read more

Second Hand Furniture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 The Off-the-Shelf Second Hand Furniture Market is segmented into the distribution channel, which is further segmented into online and offline, out of which the offline segment, with a larger market share in 2021, is anticipated to have the largest share during the forecast period. However, with the rise of an increasing number of smartphone users and increasing penetration of internet users, the market share for the online segment is expected to grow at a higher rate over the forecast period. The Asia Pacific is expected to account for a larger share in terms of revenue during the forecast period. The increasing size of the online marketplace for second-hand goods is anticipated to drive the growth of the Asia Pacific regional market.  The Off-The-Shelf Second Hand Furniture Market size is estimated at USD 21.30 billion in 2023, and is expected to reach USD 29.28 billion by 2028, growing at a CAGR of 6.57% during the forecast period (2023-2028). The market is increasi...
Read more