Discover the booming US luxury residential market! This comprehensive analysis reveals key trends, growth drivers, and top players in NYC, LA, San Francisco & more. Learn about market size, CAGR, and future projections to 2033. Invest wisely in luxury real estate! Recent developments include: October 2021: Toll Brothers Inc. - the country's leading builder of luxury homes, through its Toll Brothers Campus Living Division and CanAm Capital Partners - the private equity affiliate of CanAm enterprises and a leading provider of project-level structured debt and equity solutions, announced the formation of a new joint venture. This joint venture will develop Lapis, a 1086-bed 293-unit luxury student housing community at Florida International University (FIU) in Miami, Florida. The community will offer luxury amenities, multiple study lounges, high-speed internet throughout the community, a resort-style pool, fitness center, bike storage, club room, outdoor kitchens, business center, and secured garage., November 2021: Toll Brothers Inc. - the nation's leading builder of luxury homes, through its Toll Brothers Apartment Living rental division and Sundance Bay - a leading private real estate investment and operating firm, announced the formation of a new joint venture to develop Broad & Noble. It is a 344-unit mixed-use rental apartment community in Philadelphia, Pa. This 18-story high-rise building will feature high-end luxury finishes, a fitness center, music, media, and podcast rooms; a conservatory and private dining rooms; a yoga and cycling studio, sky lounge with an outdoor deck area. Additionally, it will consist landscaped plaza, private storage areas, an access-controlled garage with bike storage, and a pet spa.. Notable trends are: Home Automation Becoming a Pre-requisite for Luxury Real Estate.

VITAL SIGNS INDICATOR
Home Prices (EC7)

FULL MEASURE NAME
Home Prices

LAST UPDATED
December 2022

DESCRIPTION
Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE
Zillow: Zillow Home Value Index (ZHVI) - http://www.zillow.com/research/data/
2000-2021

California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - https://dof.ca.gov/forecasting/demographics/estimates/
2000-2021

US Census Population and Housing Unit Estimates - https://www.census.gov/programs-surveys/popest.html
2000-2021

Bureau of Labor Statistics: Consumer Price Index - http://data.bls.gov
2000-2021

US Census ZIP Code Tabulation Areas (ZCTAs) - https://www.census.gov/programs-surveys/geography/guidance/geo-areas/zctas.html
2020 Census Blocks

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

VITAL SIGNS INDICATOR
Home Prices (EC7)

FULL MEASURE NAME
Home Prices

LAST UPDATED
December 2022

DESCRIPTION
Home prices refer to the cost of purchasing one’s own house or condominium. While a significant share of residents may choose to rent, home prices represent a primary driver of housing affordability in a given region, county or city.

DATA SOURCE
Zillow: Zillow Home Value Index (ZHVI) - http://www.zillow.com/research/data/
2000-2021

California Department of Finance: E-4 Historical Population Estimates for Cities, Counties, and the State - https://dof.ca.gov/forecasting/demographics/estimates/
2000-2021

US Census Population and Housing Unit Estimates - https://www.census.gov/programs-surveys/popest.html
2000-2021

Bureau of Labor Statistics: Consumer Price Index - http://data.bls.gov
2000-2021

US Census ZIP Code Tabulation Areas (ZCTAs) - https://www.census.gov/programs-surveys/geography/guidance/geo-areas/zctas.html
2020 Census Blocks

CONTACT INFORMATION
vitalsigns.info@bayareametro.gov

METHODOLOGY NOTES (across all datasets for this indicator)
Housing price estimates at the regional-, county-, city- and zip code-level come from analysis of individual home sales by Zillow based upon transaction records. Zillow Home Value Index (ZHVI) is a smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. ZHVI is computed from public record transaction data as reported by counties. All standard real estate transactions are included in this metric, including REO sales and auctions. Zillow makes a substantial effort to remove transactions not typically considered a standard sale. Examples of these include bank takeovers of foreclosed properties, title transfers after a death or divorce and non arms-length transactions. Zillow defines all homes as single-family residential, condominium and co-operative homes with a county record. Single-family residences are detached, which means the home is an individual structure with its own lot. Condominiums are units that can be owned in a multi-unit complex, such as an apartment building. Co-operative homes are slightly different from condominiums in that the homeowners own shares in the corporation that owns the building, not the actual units themselves.

For metropolitan area comparison values, the Bay Area metro area’s median home sale price is the population-weighted average of the nine counties’ median home prices. Data is adjusted for inflation using Bureau of Labor Statistics metropolitan statistical area (MSA)-specific series. Inflation-adjusted data are presented to illustrate how home prices have grown relative to overall price increases; that said, the use of the Consumer Price Index (CPI) does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of the CPI itself.

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The roundwood market share is expected to increase by 15682.23 million ft3 from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 2.68%.

This roundwood market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers roundwood market segmentation by type (pulpwood, sawlogs, and veneer logs) and geography (APAC, Europe, North America, South America, and MEA). The roundwood market report also offers information on several market vendors, including AFRITIMSU GROUP OF CO. LTD., Atlantis SA, Extra-Les LLC , Flexx Panel BV, Fritz Kohl GmbH and Co. KG, JD Forest Products, Johnson International Co., Sierra Pacific Industries, Timberlink Ltd., and Timberwire Inc. among others.

What will the Roundwood Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Roundwood Market Size for the Forecast Period and Other Important Statistics

Roundwood Market: Key Drivers, Trends, and Challenges

The rising demand from housing and infrastructure construction companies is notably driving the roundwood market growth, although factors such as environmental challenges may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the roundwood industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Roundwood Market Driver

One of the key factors driving the global roundwood market growth is the rising demand from housing and infrastructure construction companies. For instance, the US President's 2020 budget proposed a sum of USD 200 billion for infrastructural development. In emerging economies, such as India, the government's policy to allow 100% FDI for townships and settlement projects is estimated to increase the demand for wooden products during the forecast period. The Government of India initiatives, such as the Smart Cities Mission, the Pradhan Mantri Awaas Yojana (PMAY), and the Sardar Patel National Urban Housing Mission, are estimated to promote urbanization, which is expected to spur the sales of new wood products and furnishings. In addition, the demand for office spaces in the Bay Area of California; Quezon City in the Philippines; and Gurugram, Bengaluru, and Hyderabad in India, is estimated to drive the growth of the global roundwood market during the forecast period.

Key Roundwood Market Trend

Another key factor driving the global roundwood market growth is the rising global roundwood production. The global roundwood market is expected to be worth USD 312 billion, or about 2 billion cubic meters during the forecast period. Despite a slowdown in market growth owing to the COVID-19 pandemic, substantial global demand for wood kept the roundwood industry afloat in 2020. The use of roundwood is expected to rise by around 10% to 2.2 billion cubic meters globally by 2030, owing to significant economic and demographic expansion in Asia. Globally, the sustainable harvest of current wood fiber supplies is estimated to be adequate to fulfill its increasing global consumption until 2030, with wood prices rising at a nominal rate of 1% per year. Such factors are expected to further drive the growth of the market in focus during the forecast period.

Key Roundwood Market Challenge

One of the key challenges to the global roundwood market growth is environmental concerns. Wildfires also devastated huge tracts of Australian and American forests and wood in 2020, in addition to the supply chain delays and reduced working hours for timber sector personnel due to the COVID-19 pandemic. Climate change and prior improper forestry management are increasingly being blamed for the increase in the number of wildfires/forest fires and beetle infestations. Moreover, sustainability is becoming a crucial long-term market trend at all levels of the value chain. Agreements to reduce greenhouse gas emissions, such as the European Green Deal, the Paris Climate Agreement, and the United States-Mexico-Canada Agreement (USMCA), could encourage the establishment of a market for biodegradable and wood-based packaging. Thus, environmental challenges are expected to limit the market growth during the forecast period.

This roundwood market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global roundwood market as a part of the global forest products market. Our research report has extensively covered external factors influencing the parent market growth

The median rent for one- and two-bedroom apartments in San Francisco, CA, amounted to about ***** U.S. dollars at the end of 2023. Rents decreased drastically after the beginning of the coronavirus pandemic - by over ** percent between December 2019 and December 2020. This trend reversed in 2021, and as of December 2021, the annual rental growth stood at ** percent. Among the different states in the U.S., California ranks as the second most expensive rental market in 2023.