WESTFORD, USA, February 15, 2024 (Globe Newswire) — The global residential real estate market size will reach USD 47.54 billion by 2030, according to is expected to grow at a CAGR of 5.1%. Skyquest's latest research report. 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 drive market growth.
According to SkyQuest's latest global survey: Residential real estate marketremote work and flexible living arrangements, sustainable and energy efficient housing, integrating smart home technology, co-living and co-housing concepts, moving to the suburbs, affordable housing initiatives, virtual real estate tours and Sales, real estate data analysis, multi-generational living spaces, and short-term vacation rentals are the trends driving market growth.
Browse the detailed table of contents for “Residential Real Estate Market”
- Page – 157
- Table – 92
- Figure-76
Residential real estate is real property (both land and buildings) that is used for residential purposes. This is in contrast to commercial or industrial real estate, where land and buildings are zoned for operating businesses such as stores, offices, and factories.
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Prominent players in the residential real estate market
- Berkshire Hathaway Home Services
- Realogy Holdings Co., Ltd.
- NRT LLC
- keller williams realty
- Century 21 Real Estate LLC
- Coldwell Banker Real Estate LLC
- Long & Foster Real Estate Co., Ltd.
- ERA Real Estate
- RE/MAX LLC
- Home Services of America Inc.
- Compass Co., Ltd.
- eXp World Holdings Co., Ltd.
- Redfin Co., Ltd.
- Jiro Group Co., Ltd.
- Opendoor Technologies Co., Ltd.
- Offerpad Solutions Co., Ltd.
- Offer Up Co., Ltd.
- Trulia Co., Ltd.
- Street Easy LLC
- Home Snap Co., Ltd.
- Realtor.com Operator Co., Ltd.
- Real Trend Co., Ltd.
- Housing Wire Co., Ltd.
Report scope and segmentation:
| attribute | detail |
| Forecast period | 2023-2030 |
| Market size in 2022 | 31.93 billion |
| 2030 value prediction | 47.54 billion |
| CAGR | 5.1% |
| Target segment | Houses, Apartments, Condos, Townhouses, Luxury Villas Affordable Homes, Mid-Range Properties, Luxury Homes Age, Income Level, and Lifestyle Preferences |
| Target area | North America (USA, Canada), Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia Pacific), Latin America (Brazil, Rest of Latin America) , Middle East and Africa (South Africa, GCC countries, other MEAs) |
Demand for single-family homes will increase significantly during the forecast period
Single-family homes dominate the global online market and offer greater privacy than multifamily housing such as apartments and condominiums. This privacy is appealing to many buyers, including those who value personal space.
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First-time home buyers are the primary application segment
In terms of use, first-time homebuyers are the dominant segment and represent an important demographic in the real estate market. This segment is made up of individuals and families looking to buy their first home and often includes young people entering the housing market for the first time.
North America has become a major market due to technological advances
Regionally, North America is one of the largest growth markets with a strong focus on technological advancement. Factors such as a strong economy, urbanization, housing demand, and investor interest contribute to its importance. Cities like New York, Los Angeles, and San Francisco are known for their expensive real estate markets. The suburban and affordable housing market has gained momentum in recent years due to changing lifestyle preferences and remote work trends.
A recent report provides a thorough analysis of the major companies operating in the residential real estate market. This comprehensive assessment considers several key factors such as collaborations, mergers, innovative business policies, and strategies, and provides valuable insights into the key trends and breakthroughs in the market. You can Additionally, the report has carefully scrutinized the market shares of the top segments and presented detailed geographical analysis. Finally, this report highlights the key players in the industry and their continued efforts to develop innovative solutions to meet the ever-growing demand for residential real estate.
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Main trends in the residential real estate market
- In March 2023, CBRE Group, Inc. announced the acquisition of NGKF, a leading commercial real estate services company. This acquisition makes CBRE the world's largest commercial real estate services company.
- In April 2023, Blackstone Group, a global investment firm, announced the acquisition of Invitation Homes, a leading single-family rental company. The acquisition makes Blackstone the largest owner of single-family rental homes in the United States.
Key Questions Answered in the Residential Real Estate Market Report
- What are the specific growth drivers impacting the market during the forecast period?
- Can you name the top companies in the market and explain how they achieved their influential position?
- How do regional trends and patterns differ within the global market and how are these differences likely to shape the future growth of the market?
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