House prices grew year-on-year in most states in the U.S. in the third quarter of 2024. The District of Columbia was the only exception, with a decline of ***** percent. The annual appreciation for single-family housing in the U.S. was **** percent, while in Hawaii—the state where homes appreciated the most—the increase exceeded ** percent. How have home prices developed in recent years? House price growth in the U.S. has been going strong for years. In 2024, the median sales price of a single-family home exceeded ******* U.S. dollars, up from ******* U.S. dollars five years ago. One of the factors driving house prices was the cost of credit. The record-low federal funds effective rate allowed mortgage lenders to set mortgage interest rates as low as *** percent. With interest rates on the rise, home buying has also slowed, causing fluctuations in house prices. Why are house prices growing? Many markets in the U.S. are overheated because supply has not been able to keep up with demand. How many homes enter the housing market depends on the construction output, whereas the availability of existing homes for purchase depends on many other factors, such as the willingness of owners to sell. Furthermore, growing investor appetite in the housing sector means that prospective homebuyers have some extra competition to worry about. In certain metros, for example, the share of homes bought by investors exceeded ** percent in 2024.

Turkey experienced the highest annual change in house prices in 2024, followed by Bulgaria and Russia. In the fourth quarter of the year, the nominal house price in Turkey grew by **** percent, while in Bulgaria and Russia, the increase was ** and ** percent, respectively. Meanwhile, many countries saw prices fall throughout the year. That has to do with an overall cooling of the global housing market that started in 2022. When accounting for inflation, house price growth was slower, and even more countries saw the market shrink.

Housing Index in China decreased by 3.20 percent in June from -3.50 percent in May of 2025. This dataset provides the latest reported value for - China Newly Built House Prices YoY Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The U.S. housing market has slowed, after ** consecutive years of rising home prices. In 2021, house prices surged by an unprecedented ** percent, marking the highest increase on record. However, the market has since cooled, with the Freddie Mac House Price Index showing more modest growth between 2022 and 2024. In 2024, home prices increased by *** percent. That was lower than the long-term average of *** percent since 1990. Impact of mortgage rates on homebuying The recent cooling in the housing market can be partly attributed to rising mortgage rates. After reaching a record low of **** percent in 2021, the average annual rate on a 30-year fixed-rate mortgage more than doubled in 2023. This significant increase has made homeownership less affordable for many potential buyers, contributing to a substantial decline in home sales. Despite these challenges, forecasts suggest a potential recovery in the coming years. How much does it cost to buy a house in the U.S.? In 2023, the median sales price of an existing single-family home reached a record high of over ******* U.S. dollars. Newly built homes were even pricier, despite a slight decline in the median sales price in 2023. Naturally, home prices continue to vary significantly across the country, with West Virginia being the most affordable state for homebuyers.

Korea Median Housing Price: Apartments: 6 Large Cities data was reported at 23,991.237 KRW tt in Nov 2018. This records a decrease from the previous number of 24,009.867 KRW tt for Oct 2018. Korea Median Housing Price: Apartments: 6 Large Cities data is updated monthly, averaging 18,283.086 KRW tt from Dec 2008 (Median) to Nov 2018, with 120 observations. The data reached an all-time high of 24,168.057 KRW tt in Sep 2017 and a record low of 12,743.770 KRW tt in Apr 2009. Korea Median Housing Price: Apartments: 6 Large Cities data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB033: Median Housing Price: Kookmin Bank.

South Korea Housing Price Index: 6 Large Cities: Busan data was reported at 90.855 Jan2022=100 in Apr 2025. This records a decrease from the previous number of 91.062 Jan2022=100 for Mar 2025. South Korea Housing Price Index: 6 Large Cities: Busan data is updated monthly, averaging 55.417 Jan2022=100 from Jan 1986 (Median) to Apr 2025, with 472 observations. The data reached an all-time high of 101.080 Jan2022=100 in Jun 2022 and a record low of 29.847 Jan2022=100 in Sep 1986. South Korea Housing Price Index: 6 Large Cities: Busan data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB003: Housing Price Index: Kookmin Bank: Jan 2022=100.

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Residential Real Estate Market Size 2025-2029

The residential real estate market size is forecast to increase by USD 485.2 billion at a CAGR of 4.5% between 2024 and 2029.

The market is experiencing significant growth, fueled by increasing marketing initiatives that attract potential buyers and tenants. This trend is driven by the rising demand for housing solutions that cater to the evolving needs of consumers, particularly in urban areas. However, the market's growth trajectory is not without challenges. Regulatory uncertainty looms large, with changing policies and regulations posing a significant threat to market stability. Notably, innovative smart home technologies, such as voice-activated assistants and energy-efficient appliances, are gaining traction, offering enhanced convenience and sustainability for homeowners.
As such, companies seeking to capitalize on the opportunities presented by the growing the market must navigate these challenges with agility and foresight. The residential construction industry's expansion is driven by urbanization and the rising standard of living in emerging economies, including India, China, Thailand, Malaysia, and Indonesia. By staying abreast of regulatory changes and implementing innovative marketing strategies, they can effectively meet the evolving needs of consumers and maintain a competitive edge. These regulatory shifts can impact everything from property prices to financing options, making it crucial for market players to stay informed and adapt quickly.

What will be the Size of the Residential Real Estate Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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In the dynamic housing market analysis, small flats continue to be a popular choice for both investors and first-time homebuyers, driven by affordability and urban growth. International investment in housing projects, including apartments and condominiums, remains strong, offering attractive investment returns. Real estate syndication and property management software facilitate efficient property ownership and management. Real estate loans, property insurance, and urban planning are essential components of the housing market, ensuring the development of affordable housing and addressing the needs of the middle class and upper middle class. Property disputes, property tax assessments, and real estate litigation are ongoing challenges, requiring careful attention from stakeholders.
Property search engines streamline the process of finding the perfect property, from studio apartments to luxury homes. Real estate auctions, land banking, and nano apartments are innovative solutions in the market, while property flipping and short sales provide opportunities for savvy investors. Urban growth and community development are key trends, with a focus on sustainable, planned cities and the integration of technology, such as real estate blockchain, into the industry. Developers secure building permits, review inspection reports, and manage escrow accounts during real estate transactions. Key services include contract negotiation, dispute resolution, and tailored investment strategies for portfolio management. Financial aspects cover tax implications, estate planning, retirement planning, taxdeferred exchanges, capital gains, tax deductions, and maintaining positive cash flow for sustained returns.

How is this Residential Real Estate Industry segmented?

The residential real estate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Mode Of Booking

  Sales
  Rental or lease


Type

  Apartments and condominiums
  Landed houses and villas


Location

  Urban
  Suburban
  Rural


End-user

  Mid-range housing
  Affordable housing
  Luxury housing


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    UK


  APAC

    Australia
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Mode Of Booking Insights

The sales segment is estimated to witness significant growth during the forecast period. The sales segment dominates the global residential real estate market and will continue to dominate during the forecast period. The sales segment includes the sale of any property that is majorly used for residential purposes, such as single-family homes, condos, cooperatives, duplexes, townhouses, and multifamily residences. With the growing population and urbanization, the demand for homes is also increasing, which is the major factor driving the growth of the sales segment. Moreover, real estate firms work with developers to sel

Key information about House Prices Growth

• US house prices grew 5.2% YoY in Dec 2024, following an increase of 5.4% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1992 to Dec 2024, with an average growth rate of 5.4%.
• House price data reached an all-time high of 17.7% in Sep 2021 and a record low of -12.4% in Dec 2008.

Mexico's housing market demonstrates significant regional price variations, with Mexico City emerging as the most expensive area for residential property in 2024. The capital city's average house price of 3.91 million Mexican pesos far exceeds the national average of 1.73 million pesos, highlighting the stark contrast in property values across the country. This disparity reflects broader economic and demographic trends shaping Mexico's real estate landscape. Sustained growth in housing prices The Mexican housing market has experienced substantial growth over the past decade, with home prices more than doubling since 2010. By the third quarter of 2023, the nominal house price index reached 255.54 points, representing a 146 percent increase from the baseline year. Even when adjusted for inflation, the real house price index showed a notable 40 percent growth, underscoring the market's resilience and attractiveness to investors. The mortgage market is dominated by three main player types: Infonavit, Fovissste, and commercial banks including Sofomes. In 2023, Infonavit, a scheme by Mexico's National Housing Fund Institute which provides lending to workers in the formal sector, was responsible for the majority of mortgages granted to individuals. Challenges in mortgage lending Despite the overall growth in housing prices, Mexico's mortgage market has faced challenges in recent years. The number of new mortgage loans granted has declined over the past decade, falling by approximately 200,000 loans between 2008 and 2023. This decrease in lending activity may be attributed to various factors, including economic uncertainties and changing consumer preferences. The state of Mexico, which is home to 13 percent of the country's population, likely plays a significant role in shaping these trends, given its large demographic influence on the national housing market.

China Property Price: 36 City Avg: Highest data was reported at 13,297.000 RMB/sq m in Jun 2010. This records a decrease from the previous number of 13,727.000 RMB/sq m for May 2010. China Property Price: 36 City Avg: Highest data is updated monthly, averaging 13,311.500 RMB/sq m from Jan 2010 (Median) to Jun 2010, with 6 observations. The data reached an all-time high of 13,999.000 RMB/sq m in Apr 2010 and a record low of 12,920.000 RMB/sq m in Jan 2010. China Property Price: 36 City Avg: Highest data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PD: Price Monitoring Center, NDRC: Property Price: 36 Cities: Monthly.

As of the third quarter of 2024, the residential property price index in Greater Jakarta (locally known as Jabodetabek) increased by approximately 1.3 percent. This indicated a sharp decline following a period of continuous increases in the price index over the past few years. Indonesia’s housing market Indonesia is currently struggling with a housing backlog, reaching nearly 13 million units in 2023. This represented the number of Indonesian households who were supposed to own a house in the country. In response to this issue, the government has initiated the “One Million Houses” program (Program Sejuta Rumah), intending to build a million houses annually. Among other cities in Indonesia, Pontianak stood out with the highest house price growth as of the third quarter of 2024. The rising role of Greater Jakarta‘s satellite cities As Indonesia’s financial center, Jakarta outpaces other areas in terms of average land prices. For residential homes, the average land price is significantly higher than the land price in industrial areas in Jakarta. Greater Jakarta, home to about 30 million people, encompasses Jakarta and five satellite cities, including Bogor, Depok, Tangerang, South Tangerang, and Bekasi. As Jakarta lacks affordable housing and developed areas for landed houses, many residents are now starting to relocate to its satellite cities. This has also caused Jakarta to have a lower residential property sales rate compared to the other Greater Jakarta regions.

The house price for Ontario is forecast to decrease by eight percent in 2023, followed by a minor increase of one percent in 2024. From roughly 932,000 Canadian dollars, the average house price in Canada's second most expensive province for housing is expected to fall to 861,000 Canadian dollars in 2024. After British Columbia, Ontario is Canada's most expensive province for housing. Ontario Ontario is the most populated province in Canada, located on the eastern-central side of the country. It is an English speaking province. To the south, it borders American states Minnesota, Michigan, Ohio, Pennsylvania, and New York. Its provincial capital and largest city is Toronto. It is also home to Canada’s national capital, Ottawa. Furthermore, a large part of Ontario’s economy comes from manufacturing, as it is the leading manufacturing province in Canada. The population of Ontario has been steadily increasing since 2000. The population in 2018 was an estimated 14.3 million people. The median total family income in 2016 came to 83,160 Canadian dollars. Ontario housing market The number of housing units sold in Ontario is projected to rise until 2024. Additionally, the average home prices in Ontario have significantly increased since 2007.

Indonesia Residential Property Price Index: Expectation: Bandar Lampung Municipality: Large data was reported at 197.862 2002=100 in Jun 2020. This records a decrease from the previous number of 201.546 2002=100 for Mar 2020. Indonesia Residential Property Price Index: Expectation: Bandar Lampung Municipality: Large data is updated quarterly, averaging 192.930 2002=100 from Mar 2010 (Median) to Jun 2020, with 42 observations. The data reached an all-time high of 204.560 2002=100 in Mar 2018 and a record low of 161.440 2002=100 in Mar 2011. Indonesia Residential Property Price Index: Expectation: Bandar Lampung Municipality: Large data remains active status in CEIC and is reported by Bank of Indonesia. The data is categorized under Indonesia Premium Database’s Construction and Properties Sector – Table ID.EF012: Residential Property Price Index: Expectation: by Cities.

Graph and download economic data for All-Transactions House Price Index for Florida (FLSTHPI) from Q1 1975 to Q1 2025 about appraisers, FL, HPI, housing, price index, indexes, price, and USA.

Indonesia Residential Property Price Index: Expectation: Palembang Municipality: Large data was reported at 222.862 2002=100 in Jun 2020. This records a decrease from the previous number of 222.884 2002=100 for Mar 2020. Indonesia Residential Property Price Index: Expectation: Palembang Municipality: Large data is updated quarterly, averaging 197.445 2002=100 from Mar 2010 (Median) to Jun 2020, with 42 observations. The data reached an all-time high of 223.105 2002=100 in Jun 2019 and a record low of 157.840 2002=100 in Mar 2010. Indonesia Residential Property Price Index: Expectation: Palembang Municipality: Large data remains active status in CEIC and is reported by Bank of Indonesia. The data is categorized under Indonesia Premium Database’s Construction and Properties Sector – Table ID.EF012: Residential Property Price Index: Expectation: by Cities.

Revenue for the Commercial Real Estate industry in China is expected to decrease at an annualized 6.5% over the five years through 2025, with strict control on real estate sector and the effects of the COVID-19 epidemic since 2020.Since August 2020, the Government has proposed three debt indicators for real estate development and management companies through which the company's financial health can be rated. This new policy has exacerbated the company's debt pressure, making it unable to repay old debts by borrowing new debt. Some real estate companies faced a liquidity crisis.In 2022, the city's lockdown and laying-off caused by COVID-19 epidemic led to the pressure of delaying the delivery of commercial real estate. The industry's newly constructed and completed areas decreased significantly throughout the year. In addition, the epidemic has impacted sales in the real estate development and management industry, and some sales offices have been forced to close temporarily. In 2022, the newly constructed area of office buildings decreased by 39.1%, the newly constructed area of commercial-used buildings decreased by 42.0%, and the completed area dropped by 22.8% and 22.0% respectively.Industry revenue is forecast to recover at an annualized 1.4% over the five years through 2030. The industry's growth is anticipated to stabilize over the period, as the government continues to strengthen controls on real estate. The industry is projected to further expand into second- and third-tier cities, like Chengdu, Shenyang, and Xi'an, as firms seek to gain market share in regional centers over the next five years. Several city complex projects are planned to be built in these cities over the five years through 2030.

The price of residential property in New Zealand was the highest in the Auckland region in March 2025, with an average sale price of around *********** New Zealand dollars. The most populated city in the country, Auckland, has consistently reported higher house prices compared to most other regions. Buying property in New Zealand, particularly in its major cities, is expensive. The nation has one of the highest house-price-to-income ratios in the world. Auckland residential market The residential housing market in Auckland is competitive. Prices have been slowly decreasing; the Auckland region experienced an annual decrease in the average residential house price in March 2025 compared to the same month in the previous year. The price of residential property in Auckland was the highest in the North Shore City district, with an average sale price of around **** million New Zealand dollars. Home financing Due to the rising cost of real estate, an increasing number of New Zealanders who want to own their own property are taking on mortgages. Most residential mortgage lending in New Zealand went to owner-occupier borrowers, followed by first home buyers. In addition to mortgage lending, previously under the KiwiSaver HomeStart initiative, first-home buyers in New Zealand were able to apply to withdraw all or part of their KiwiSaver retirement savings to assist with purchasing a first home. Nonetheless, the scheme was discontinued in May 2024. Furthermore, even with a large initial deposit, it may take decades for many borrowers to pay off their mortgage.

The average resale house price in Canada was forecast to reach nearly ******* Canadian dollars in 2026, according to a January forecast. In 2024, house prices increased after falling for the first time since 2019. One of the reasons for the price correction was the notable drop in transaction activity. Housing transactions picked up in 2024 and are expected to continue to grow until 2026. British Columbia, which is the most expensive province for housing, is projected to see the average house price reach *** million Canadian dollars in 2026. Affordability in Vancouver Vancouver is the most populous city in British Columbia and is also infamously expensive for housing. In 2023, the city topped the ranking for least affordable housing market in Canada, with the average homeownership cost outweighing the average household income. There are a multitude of reasons for this, but most residents believe that foreigners investing in the market cause the high housing prices. Victoria housing market The capital of British Columbia is Victoria, where housing prices are also very high. The price of a single family home in Victoria's most expensive suburb, Oak Bay was *** million Canadian dollars in 2024.

Indonesia Residential Property Price Index: Expectation: Balikpapan Municipality: Large data was reported at 115.763 2002=100 in Jun 2020. This records a decrease from the previous number of 118.042 2002=100 for Mar 2020. Indonesia Residential Property Price Index: Expectation: Balikpapan Municipality: Large data is updated quarterly, averaging 118.080 2002=100 from Jun 2014 (Median) to Jun 2020, with 25 observations. The data reached an all-time high of 119.670 2002=100 in Jun 2018 and a record low of 107.520 2002=100 in Sep 2014. Indonesia Residential Property Price Index: Expectation: Balikpapan Municipality: Large data remains active status in CEIC and is reported by Bank of Indonesia. The data is categorized under Indonesia Premium Database’s Construction and Properties Sector – Table ID.EF012: Residential Property Price Index: Expectation: by Cities.

Indonesia Residential Property Price Index: Expectation: Manado Municipality: Large data was reported at 244.575 2002=100 in Jun 2020. This records a decrease from the previous number of 245.036 2002=100 for Mar 2020. Indonesia Residential Property Price Index: Expectation: Manado Municipality: Large data is updated quarterly, averaging 204.390 2002=100 from Mar 2010 (Median) to Jun 2020, with 42 observations. The data reached an all-time high of 250.279 2002=100 in Dec 2019 and a record low of 132.120 2002=100 in Mar 2010. Indonesia Residential Property Price Index: Expectation: Manado Municipality: Large data remains active status in CEIC and is reported by Bank of Indonesia. The data is categorized under Indonesia Premium Database’s Construction and Properties Sector – Table ID.EF012: Residential Property Price Index: Expectation: by Cities.