The total size of commercial real estate in the U.S. was estimated $16 trillion in 2018. Nareit estimates that the 2018 total dollar value of commercial real estate was between $14 and $17 trillion, with a mid-point of $16 trillion.
How many commercial real estate properties are in the US?
CBECS estimates that 5.9 million U.S. commercial buildings contained a total of 97 billion square feet as of 2018. The number of commercial buildings increased by 6%, and commercial square footage increased by 11% since the CBECS was last conducted in 2012.
How big is the US residential real estate market?
The residential real estate market size was valued at $8,567.4 billion in 2019, and is expected to reach $12,182.1 billion by 2027, registering a CAGR of 9.0% from 2020 to 2027. The market includes buying and selling of residential properties such as flats, bungalows, and villas.
How big is the real estate industry 2021?
According to a new Zillow report, the total value of the private residential real estate in the United States increased by a record $6.9 trillion in 2021, to $43.4 trillion, Since the lows of the post-recession market and the corresponding building slump, the value of housing in the United States has more than doubled.
What percentage of GDP is commercial real estate?
In 2018, real estate construction contributed $1.15 trillion to the nation’s economic output. That’s 6.2% of U.S. gross domestic product. It’s more than the $1.13 trillion in 2017 but still less than the 2006 peak of $1.19 trillion. At that time, real estate construction was a hefty 8.9% component of GDP.
Who owns the most commercial property in the United States?
Blackstone owns 153 million square feet of office space globally, and is the largest owner of office property in the U.S.
How big is the US multifamily market?
With a transaction value of close to 140 billion U.S. dollars in 2020, the multifamily real estate market accounted for almost half of the total commercial property market.
How big is China’s real estate market?
China’s real estate market has been called the most important sector in the world economy. Valued at about $55tn, it is now twice the size of its US equivalent, and four times larger than China’s GDP.
How much is the real estate industry worth 2021?
The global real estate market is expected to grow from $2687. 35 billion in 2020 to $2774. 45 billion in 2021 at a compound annual growth rate (CAGR) of 3.
What is the total value of all real estate in the US?
According to new research by Zillow, the total value of every home in the U.S. is $33.6 trillion, nearly as much as the GDP of the two largest global economies combined — the U.S. ($20.5 trillion) and China ($13.6 trillion).
Is real estate a trillion dollar industry?
2021 is On Pace to be the First Multi-Trillion Dollar Real Estate Market. … Through the second quarter of 2021, the total value of residential real estate transactions was over $600 billion for the third time in the past year, for a total of $750 billion.
Will housing market crash in 2021?
Current Growth Is Not Sustainable, But a Crash Is Unlikely
Fannie Mae predicts that home prices will rise by just 7.9% between the fourth quarter of 2021 and the same time at the end of 2022 — “just” being a subjective term.
Will 2022 be a good year to buy a house?
Economists told Insider in July that 2022 will be an easier time for prospective homebuyers. New signs suggest that forecast is holding up. … And while economists expect prices to keep soaring next year, signs point to 2021 serving as the peak for the housing-market frenzy.
What percentage of China GDP is real estate?
A research paper by renowned Harvard Professor of Public Policy and Economics Kenneth Rogoff and IMF Economist Yuanchen Yang, published in August 2020, estimated that the real estate sector accounts for around 29% of China’s GDP.
How much of Canada’s GDP is realtor?
Canada’s housing is valued at more than 300% of the country’s gross domestic product (GDP). In contrast, US housing was worth just 170% of its GDP over the same period. As pricey as American real estate is, the value of home prices relative to its economy is almost half that of Canada.
Is real estate the largest industry?
Real Estate, renting, and leasing constitutes the largest sector of the United States’ economy with the GDP value added of $1.898 trillion accounting for 13% of the national GDP.