Westford, USA, Feb. 15, 2024 (GLOBE NEWSWIRE) -- The global Residential Real Estate market size is expected to reach USD 47.54 billion by 2030 and exhibit a CAGR of 5.1% in the forecast period (2023−2030), according to Skyquest's latest research report. The population growth, urbanization, low mortgage rates, housing affordability, employment opportunities, demand for rental properties, government incentives, migration trends, digital real estate platforms, and investment opportunities fuel the market's growth.
According to SkyQuest's latest global research of the Residential Real Estate market, remote work and flexible living arrangements, sustainable and energy-efficient homes, smart home technology integration, co-living and co-housing concepts, suburban migration, affordable housing initiatives, virtual property tours and sales, real estate data analytics, multi-generational living spaces, and short-term vacation rentals are the trends that aid in the market's growth.
Browse in-depth TOC on "Residential Real Estate Market"
- Pages - 157
- Tables - 92
- Figures -76
Residential real estate is property (both land and buildings) used for housing. This is in contrast to commercial or industrial real estate, where the land and buildings are zoned for operating a business, such as a store, an office or a factory.
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Prominent Players in Residential Real Estate Market
- Berkshire Hathaway HomeServices
- Realogy Holdings Corp.
- NRT LLC
- Keller Williams Realty
- Century 21 Real Estate LLC
- Coldwell Banker Real Estate LLC
- Long & Foster Real Estate Inc.
- ERA Real Estate
- RE/MAX LLC
- HomeServices of America Inc.
- Compass Inc.
- eXp World Holdings Inc.
- Redfin Corporation
- Zillow Group Inc.
- Opendoor Technologies Inc.
- Offerpad Solutions Inc.
- OfferUp Inc.
- Trulia Inc.
- StreetEasy LLC
- Homesnap Inc.
- Realtor.com Operator Inc.
- RealTrends Inc.
- HousingWire Inc.
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 31.93 Billion |
| 2030 Value Projection | 47.54 Billion |
| CAGR | 5.1% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Single-family Homes Demand to Grow Substantially in the Forecast Period
Single-family homes dominate the global online market, providing greater privacy than multi-family housing like apartments and condominiums. This privacy appeals to many buyers, including those who value their personal space.
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First-time Homebuyers are the Leading Application Segment
In terms of application, first-time homebuyers are the leading segment, representing a significant demographic in the real estate market. This segment consists of individuals and families looking to purchase their first home, often young adults entering the housing market for the first time.
North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. Factors such as a robust economy, urbanization, housing demand, and investor interest contribute to its significance. Cities like New York, Los Angeles, and San Francisco are known for high-value real estate markets. The suburban and affordable housing markets have gained momentum in recent years due to changing lifestyle preferences and remote work trends.
A recent report thoroughly analyzes the major players operating within the Residential Real Estate market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Residential Real Estate.
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Key Developments in Residential Real Estate Market
- In March 2023, CBRE Group, Inc. announced the acquisition of NGKF, a leading commercial real estate services firm. The acquisition will make CBRE the largest commercial real estate services firm in the world.
- In April 2023, The Blackstone Group, a global investment firm, announced the acquisition of Invitation Homes, a leading single-family rental company. The acquisition will make Blackstone the largest owner of single-family rental homes in the United States.
Key Questions Answered in Residential Real Estate Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
Related Reports in SkyQuest’s Library:
Global Office Real Estate Market
Global Shopping Centers Market
Global Architectural Service Market
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