The United States Real Estate Market
The United States Real Estate Market is expected to register a CAGR of approximately 7% during the forecast period of 2021-2026. In 2020, the market was valued at USD 461.7 billion. The market is expected to reach USD 694 billion in 2026.
The Realtors Confidence Index (RCI) recorded at 65 for detached single-family, 53 for townhomes, and 50 for condominium properties.
The value for residential construction is forecasted to decline and reach about USD 451 billion in 2022. The forecasted value is expected to reach approximately USD 483 billion by 2024, growing at a CAGR of -4%. The non-residential construction spending is forecasted to reach USD 473 billion by 2024.
($Billion)
Present Trends
The real estate construction industry in the United States has been using drones for waste monitoring and management. The use of drones to manage construction waste in the United States had led to 61% measurement accuracy.
The construction of green buildings is emerging as one of the major trends in the US. The number of LEED-certified projects in the United States rose from 296 certifications in 2006 up to over 67,200 in 2018.
In recent years, there have increasing advances in the use of 3D printing technology in the U.S. making it possible to flexibly construct small commercial buildings and private habitations within a relatively short amount of time.
Data Sources: Statista, AP News, Mordor Intelligence
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