The number of U.S. home sales in the United States declined in 2024, after soaring in 2021. A total of four million transactions of existing homes, including single-family, condo, and co-ops, were completed in 2024, down from 6.12 million in 2021. According to the forecast, the housing market is forecast to head for recovery in 2025, despite transaction volumes expected to remain below the long-term average. Why have home sales declined? The housing boom during the coronavirus pandemic has demonstrated that being a homeowner is still an integral part of the American dream. Nevertheless, sentiment declined in the second half of 2022 and Americans across all generations agreed that the time was not right to buy a home. A combination of factors has led to house prices rocketing and making homeownership unaffordable for the average buyer. A survey among owners and renters found that the high home prices and unfavorable economic conditions were the two main barriers to making a home purchase. People who would like to purchase their own home need to save up a deposit, have a good credit score, and a steady and sufficient income to be approved for a mortgage. In 2022, mortgage rates experienced the most aggressive increase in history, making the total cost of homeownership substantially higher. Are U.S. home prices expected to fall? The median sales price of existing homes stood at 413,000 U.S. dollars in 2024 and was forecast to increase slightly until 2026. The development of the S&P/Case Shiller U.S. National Home Price Index shows that home prices experienced seven consecutive months of decline between June 2022 and January 2023, but this trend reversed in the following months. Despite mild fluctuations throughout the year, home prices in many metros are forecast to continue to grow, albeit at a much slower rate.

Dataset Overview

This dataset provides historical housing price indices for the United States, covering a span of 20 years from January 2000 onwards. The data includes housing price trends at the national level, as well as for major metropolitan areas such as San Francisco, Los Angeles, New York, and more. It is ideal for understanding how housing prices have evolved over time and exploring regional differences in the housing market.

Why This Dataset?

The U.S. housing market has experienced significant shifts over the last two decades, influenced by economic booms, recessions, and post-pandemic recovery. This dataset allows data enthusiasts, economists, and real estate professionals to analyze long-term trends, make forecasts, and derive insights into regional housing markets.

What’s Included?

Time Period: January 2000 to the latest available data (specific end date depends on the dataset). Frequency: Monthly data. Regions Covered: 20+ U.S. cities, states, and aggregates.

Columns Description

Each column represents the housing price index for a specific region or aggregate, starting with a date column:

Date: Represents the date of the housing price index measurement, recorded with a monthly frequency. U.S. National: The national-level housing price index for the United States. 20-City Composite: The aggregate housing price index for the top 20 metropolitan areas in the U.S. CA-San Francisco: The housing price index for San Francisco, California. CA-Los Angeles: The housing price index for Los Angeles, California. WA-Seattle: The housing price index for Seattle, Washington. NY-New York: The housing price index for New York City, New York. Additional Columns: The dataset includes more columns with housing price indices for various U.S. cities, which can be viewed in the full dataset preview.

Potential Use Cases

Time-Series Analysis: Investigate long-term trends and patterns in housing prices. Forecasting: Build predictive models to forecast future housing prices using historical data. Regional Comparisons: Analyze how housing prices have grown in different cities over time. Economic Insights: Correlate housing prices with economic factors like interest rates, GDP, and inflation.

Who Can Use This Dataset?

This dataset is perfect for:

Data scientists and machine learning practitioners looking to build forecasting models. Economists and policymakers analyzing housing market dynamics. Real estate investors and analysts studying regional trends in housing prices.

Example Questions to Explore

Which cities have experienced the highest housing price growth over the last 20 years? How do housing price trends in coastal cities (e.g., Los Angeles, Miami) compare to midwestern cities (e.g., Chicago, Detroit)? Can we predict future housing prices using time-series models like ARIMA or Prophet?

The number of home sales in the United States peaked in 2021 at almost ************* after steadily rising since 2018. Nevertheless, the market contracted in the following year, with transaction volumes falling to ***********. Home sales remained muted in 2024, with a mild increase expected in 2025 and 2026. A major factor driving this trend is the unprecedented increase in mortgage interest rates due to high inflation. How have U.S. home prices developed over time? The average sales price of new homes has also been rising since 2011. Buyer confidence seems to have recovered after the property crash, which has increased demand for homes and also the prices sellers are demanding for homes. At the same time, the affordability of U.S. homes has decreased. Both the number of existing and newly built homes sold has declined since the housing market boom during the coronavirus pandemic. Challenges in housing supply The number of housing units in the U.S. rose steadily between 1975 and 2005 but has remained fairly stable since then. Construction increased notably in the 1990s and early 2000s, with the number of construction starts steadily rising, before plummeting amid the infamous housing market crash. Housing starts slowly started to pick up in 2011, mirroring the economic recovery. In 2022, the supply of newly built homes plummeted again, as supply chain challenges following the COVID-19 pandemic and tariffs on essential construction materials such as steel and lumber led to prices soaring.

Graph and download economic data for Median Sales Price of Houses Sold for the United States (MSPUS) from Q1 1963 to Q2 2025 about sales, median, housing, and USA.

The average sales price of new homes in the United States experienced a slight decrease in 2024, dropping to 512,2000 U.S. dollars from the peak of 521,500 U.S. dollars in 2022. This decline came after years of substantial price increases, with the average price surpassing 400,000 U.S. dollars for the first time in 2021. The recent cooling in the housing market reflects broader economic trends and changing consumer sentiment towards homeownership. Factors influencing home prices and affordability The rapid rise in home prices over the past few years has been driven by several factors, including historically low mortgage rates and increased demand during the COVID-19 pandemic. However, the market has since slowed down, with the number of home sales declining by over two million between 2021 and 2023. This decline can be attributed to rising mortgage rates and decreased affordability. The Housing Affordability Index hit a record low of 98.1 in 2023, indicating that the median-income family could no longer afford a median-priced home. Future outlook for the housing market Despite the recent cooling, experts forecast a potential recovery in the coming years. The Freddie Mac House Price Index showed a growth of 6.5 percent in 2023, which is still above the long-term average of 4.4 percent since 1990. However, homebuyer sentiment remains low across all age groups, with people aged 45 to 64 expressing the most pessimistic outlook. The median sales price of existing homes is expected to increase slightly until 2025, suggesting that affordability challenges may persist in the near future.

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q2 2025 about sales, housing, and USA.

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.

Residential real estate transactions saw both a decline as well as an increase during the coronavirus pandemic in 2020, depending on the country. In Denmark, for example, property sales increased by over ***** percent year-on-year in the second quarter of 2020. This was in stark contrast to the United Kingdom, where provisional and non-seasonal data suggested the country saw one of its largest drops in housing transactions since 2009. Some countries, on the other hand, already witnessed a decrease in their transactions before COVID-19 hit Europe. The housing trade inFrance, for example, suffered a large decrease in the first quarter of 2020, right before quarantine measures were enforced. Data for Germany, on the other hand, suggested that its housing market was still growing before the lockdown. Whether this was still the case in 2020 remains to be seen.

The real estate market attained a value of USD 4295.21 Billion in 2024. The market is expected to grow at a CAGR of 6.40% during the forecast period of 2025-2034. By 2034, the market is expected to reach USD 7987.31 Billion.

Smart city initiatives are integrating technology into urban planning to improve livability, efficiency, and sustainability. Real estate is at the core of these transformations, with developments featuring smart utilities, real-time traffic monitoring, and digitally managed public services. In March 2025, Gopalan Enterprises invested ₹500 crore to launch 3,000 AI-powered smart homes by 2025, marking its tech-driven expansion. These innovations attract both residents and businesses seeking convenience, safety, and lower operating costs.

Shifts in lifestyle and work habits are redefining the real estate market dynamics. Post-pandemic preferences include larger homes, outdoor spaces, and home offices. In commercial real estate, flexible layouts, wellness-focused designs, and high-speed internet are essential. Tenants seek amenity-rich environments with co-working zones, fitness centers, and green spaces. The rise of remote and hybrid work has further made suburban and exurban areas more attractive. Customization, comfort, and connectivity are now key selling points across both residential and commercial segments.

Graph and download economic data for Housing Inventory: Median Days on Market in Pittsburgh, PA (CBSA) (MEDDAYONMAR38300) from Jul 2016 to Aug 2025 about Pittsburgh, PA, median, and USA.

Indonesia Residential Real Estate Market Outlook 2031:

The Indonesia residential real estate market size was valued at USD 61.88 Billion in 2022 and is projected to reach USD 123.18 Billion by 2031, expanding at a CAGR of 7.95% during the forecast period 2023 - 2031. The growth of market is attributed to increasing young population, rapid urbanization, complimentary demographic configuration, and increasing per capital income of population.

The legal authorities of Indonesia has taken an initiatives towards the development of the country by introducing One Million Houses (OMH) programs, the program focuses on construction of at least 1 million units per year around 1.11 millions are constructed in the year 2018.

This programs main objective is to cater the lack of investment in the property market and reduce the 7.4 million shortage of housing investment to around 5.2 million. By this year they majorly aim at catering the pile-up demand of the country first.



There is a significant demand in the rise of residential property among the population in both the segments land and vertical housing, and after the government interference with the initiatives and favorable policies it is expected more to increase.



The real estate industry looks at renting and leasing of properties it is valued by the total revenue generated by landlord through renting council and private properties and is calculated using average rent multiplied by the number of rented properties.



The covid-19 pandemic impacted the residential real estate market. Decreasing supply of raw materials, lockdown across the globe, and supply chain disorders forced companies to close down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

La Rioja was the Spanish region where the pandemic impact on real estate prices was higher compared to the previous year, with a decrease of almost 16% in the last quarter of 2020. The only place in Spain where there was an increase in comparison with the pre-pandemic data was in the autonomous city of Melilla.

The Spain residential real estate market size was USD 145.18 Billion in 2022 and is likely to reach USD 264.67 Billion by 2031, expanding at a CAGR of 6.9% during 2023–2031. The growth of the market is attributed to the increase in construction as well as population.

Spain’s real estate market is posting a positive trend, especially in terms of demand. The revival in house sales was high in 2021. For instance, 468,000 transactions were completed by October 2021, a growth of 35.9% compared to 2020 and up by 8.3% on 2019. The activity in the residential sector was highest since 2008. A large part of this revival in demand has come from a reduction in pent-up demand and the forced savings accumulated during the months of lockdown and severely restricted travel, combined with highly favorable financing conditions, which make it more attractive to buy and invest in real estate assets. The residential sector is therefore on track to close 2021 with 545,000 sales in the year as a whole.

Before the pandemic began, the residential real estate market in Spain was growing at a healthy pace, which was then dented by Covid-19 as the construction of housing units came down. However, in 2021, the market was back on track with increase in construction.



As per the latest data from the Appraisal Society, it indicates that the price of new housing has remained stable, in a context of increased sales and improvement in economic indicators. The average price of new homes has grown 0.4% in Spain over the last 12 months to Euro 2,482 (approximately USD 2812) per square meter. This slight increase has been generalized and has been registered in 16 of the 17 autonomous communities.



The economic consequences of the Covid crisis made a dent in the real estate market, and has reflected in the 16.7% collapse of sales in Spain in 2020 to 419,898 transactions. As a result, experimental ways of life are introduced into the real estate market to compensate for the lack of social interaction between people.

Spain Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

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Real estate activity is strongly correlated with the residential property and commercial real estate markets. The industry is characterised by high revenue volatility, as demand for property fluctuates with wider economic conditions. The majority of industry enterprises are often purposefully created structures used by other bodies, including property developers, real estate investment trusts and other investors, to carry out the specific tasks of buying and selling real estate. Revenue is estimated to inch upwards at a compound annual rate of 0.5% over the five years through 2025, including a 0.2% hike to €71.7 billion in 2025. Before the pandemic, a record-low interest rate environment and governmental incentives like the Loi Pinel scheme fuelled a thriving residential market, with home sales reaching a peak in early 2020. However, the downturn during the COVID-19 pandemic in 2020 led to a temporary slump in housing sales, denting real estate activity. Recovery was swift in 2021, buoyed by low mortgage rates and a resurgence in consumer confidence. However, since mid-2022, the industry has faced fresh challenges from soaring inflation and climbing interest rates. Residential property transactions dwindled, reaching their lowest in years by late 2023. The commercial market has also struggled, grappling with evolving work patterns and heightened borrowing costs, causing investment volumes to plunge. Subsiding inflation and interest rates have been providing opportunities for companies involved in the selling, buying and renting of real estate since 2024, but heightened uncertainty amid political instability is still restricting demand and revenue growth. Revenue is forecast to climb at a compound annual rate of 1.4% over the five years through 2030 to reach €76.8 billion. Improving economic conditions, including lower inflation and interest rates, will bolster real estate affordability and make investing in property more appealing. Demographic shifts, including urbanisation and an ageing population, will elevate demand for student and senior housing. However, challenges linger, as demand for retail spaces might suffer from strong e-commerce, while office landlords may struggle with vacancies as the hybrid work model persists. A focus on sustainability will be crucial for real estate companies, with the emphasis on green-certified buildings growing. Companies that integrate property technology like AI, blockchain and virtual reality will gain a competitive advantage and thrive in the evolving real estate market.

Detached House Market Outlook

The global detached house market size was estimated to be approximately USD 1.5 trillion in 2023 and is expected to reach around USD 2.2 trillion by 2032, growing at a CAGR of 4.2% over the forecast period. This growth is driven by various factors including increasing urbanization, rising disposable incomes, and a growing preference for individual living spaces. The demand for detached houses is also being fueled by the trend towards more spacious and private living conditions, particularly in the wake of the COVID-19 pandemic which highlighted the need for personal space and home office setups.

The first major growth factor for the detached house market is urbanization. With a significant proportion of the global population moving towards urban areas, the demand for housing has skyrocketed. Detached houses offer a unique proposition in urban settings, combining the need for proximity to city centers with the desire for personal space and privacy. This trend is particularly evident in rapidly developing countries where the middle class is expanding, driving demand for high-quality housing solutions that detached houses offer.

Another key driver is the increase in disposable incomes globally. As more people attain higher income levels, they are increasingly able to afford detached houses, which are often seen as a mark of social status and financial stability. The affordability of mortgages and favorable lending rates in many regions have also made the dream of owning a detached house more attainable for many families. Additionally, government initiatives and subsidies aimed at promoting homeownership have played a significant role in boosting this market.

The third significant growth factor is the shift towards remote work and the need for dedicated home spaces. The COVID-19 pandemic has fundamentally changed how people view their living spaces. With remote work becoming more common, there is a heightened demand for homes that can accommodate both living and working needs. Detached houses, with their ample space and potential for customization, provide an ideal solution for this new way of living. This trend is expected to continue, further propelling the market for detached houses.

Regional outlook for the detached house market indicates robust growth across various regions. North America remains a significant market, driven by strong economic conditions and high disposable incomes. Asia Pacific is expected to witness the highest growth, fueled by rapid urbanization and a burgeoning middle class. Europe also shows steady growth, supported by favorable government policies and a strong preference for homeownership. The Middle East & Africa and Latin America are emerging markets with significant potential, although growth in these regions may be tempered by economic and political challenges.

Type Analysis

In the detached house market, the type of house plays a pivotal role in influencing buyer preferences. Single-story detached houses are particularly popular among older adults and retirees who prefer not to navigate stairs. These homes are also easier to maintain and offer a more straightforward floor plan, which can be appealing to first-time homebuyers or small families. Single-story homes are often associated with a more traditional and cozy living environment, making them a preferred choice in suburban and rural areas.

On the other hand, multi-story detached houses cater to larger families and those who require more living space. These homes often come with the advantage of added privacy, as bedrooms and personal spaces can be separated from common areas such as the living room and kitchen. Multi-story homes also offer the possibility of more elaborate architectural designs and can be seen as a status symbol in many cultures. The demand for multi-story houses is particularly strong in urban and densely populated areas where land is at a premium.

The choice between single-story and multi-story homes is also influenced by regional preferences and cultural factors. For instance, in many parts of the United States and Canada, multi-story homes are more popular due to the availability of larger plots of land and the preference for spacious living areas. In contrast, single-story homes are more common in Australia and certain parts of Europe, where they are seen as more practical and in line with local architectural traditions.

Report Scope

According to Cognitive Market Research, the global Real Estate Sector market size will be USD 3625.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1450.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1087.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 833.87 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 181.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 72.51 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The Commercial real estate is the fastest-growing segment, driven by economic development, urbanization, and a shift toward modern, multi-use spaces

Market Dynamics of Real Estate Sector Market

Key Drivers Real Estate Sector Market

Urbanization and Population Growth Fueling Demand: The increase in urban migration is driving the need for residential, commercial, and industrial properties. The development of megacities, improved infrastructure, and rising disposable incomes are contributing to the growth of the real estate sector. For instance, the Reserve Bank of India’s low interest rates in 2021 significantly boosted housing demand by 35–40% during the festive period.

Economic Growth and Rising Incomes Facilitating Market Expansion: A robust economy and increasing income levels are allowing for more substantial investments in real estate. The development of infrastructure, enhanced investor confidence, and capital inflows are further driving demand across the residential, commercial, and industrial property sectors.

Key Restraint Real Estate Sector Market

High Construction Costs Impeding Market Growth: The escalating costs of raw materials and labor shortages are raising project expenses and causing delays. Global supply chain disruptions and inflation are also impacting profit margins and making housing less affordable, which in turn is hindering real estate activity.

Key Trends for Real Estate Sector Market

Smart Cities and Sustainable Infrastructure Development: Governments and developers are focusing on smart city initiatives that include green buildings, energy-efficient designs, and technology-integrated infrastructure, thereby improving livability and long-term value in urban real estate markets.

Increasing Demand for Mixed-Use Developments: There is a growing consumer preference for integrated spaces that combine residential, retail, and office units. This trend is transforming urban planning and generating demand for multi-functional real estate projects that cater to convenience and contemporary lifestyles.

Impact of Covid-19 on the Real Estate Sector Market

Covid-19 pandemic significantly impacted the real estate sector, leading to shifts in both demand and operational dynamics. During the early phases of the pandemic, lockdowns and economic uncertainties caused a slowdown in construction activities, delays in project completions, and a decline in property transactions. The residential market experienced a surge in demand for larger homes and properties in suburban areas as people sought more space due to remote work trends. On the other hand, the commercial real estate market, especially office spaces, faced challenges with businesses adopting remote work models, resulting in a reduced demand for office buildings. Introduction of the Real Estate Sector Market

The real estate sector encompasses the development, buying, selling, leasing, and management of land, residential, commercial, and industrial properties. It is a dynamic market driven by a complex mix of factors, including economic conditions, urbanization, demographic shifts, and government policies. Market growth in the real estate sector is primarily influenced by factors such as population growth, increasing urbaniza...

The global condominiums and apartments market is experiencing robust growth, driven by factors such as increasing urbanization, rising disposable incomes, and a growing preference for urban lifestyles. The market's Compound Annual Growth Rate (CAGR) exceeding 3.00% indicates a consistent expansion, projected to continue throughout the forecast period (2025-2033). Key market drivers include government initiatives promoting affordable housing, increasing tourism and associated hospitality needs, and the growing popularity of mixed-use developments integrating residential and commercial spaces. Emerging trends such as smart home technology integration, sustainable building practices, and the rise of co-living spaces are further shaping market dynamics. However, constraints such as rising construction costs, stringent building regulations, and limited land availability in prime urban locations pose challenges to market growth. The market is segmented geographically, with North America, Europe, and Asia Pacific representing significant market shares. Analysis of production, consumption, import/export volumes and values, and price trends provides a comprehensive understanding of the market's dynamics across these regions. Major players like Christie International Real Estate, Lennar Corporation, and Savills PLC are actively shaping the market through their developments and innovations. This competitive landscape necessitates continuous adaptation and innovation to remain successful. The projected market size for 2025 serves as the base for forecasting future growth. Considering the CAGR of >3.00%, a reasonable estimation of the market size can be derived for subsequent years. Regional variations in growth rates will exist depending on factors such as economic conditions, urbanization rates, and governmental policies. While precise figures for each segment and region are not provided, the analysis clearly points to a positive trajectory fueled by ongoing urbanization and evolving consumer preferences, with significant opportunities and challenges within this dynamic market. A deeper regional analysis will reveal nuanced differences in market performance, influencing strategic decisions of players in this competitive landscape. Recent developments include: October 2022: City Developments Ltd. (CDL), controlled by billionaire Kwek Leng Beng, is proceeding with the launch of a suburban residential condominium project in Singapore's western region, indicating its confidence that property demand will be sustained despite the government's new property curbs., June 2022: ALTIDO, a European property management company, has announced two mergers and acquisitions, including Flatty and A&A Apartments & Boats. It comes less than four months after ALTIDO was acquired by Italian living company DoveVivo, ensuring it emerged from the COVID-19 pandemic with a large injection of financing under its belt and the ability to expand its inventory by 51 properties through the combined acquisitions.. Notable trends are: Increasing Demand for Condominiums in Several Regions Driving the Market.

Replication code for the analysis and figures in the paper

Graph and download economic data for All-Transactions House Price Index for Knoxville, TN (MSA) (ATNHPIUS28940Q) from Q1 1983 to Q2 2025 about Knoxville, TN, appraisers, HPI, housing, price index, indexes, price, and USA.

The Scandinavian residential real estate market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid urbanization, rapid development in Scandinavian countries, strict regulation by government on zoning, and rising immigration.

For groups of people, individuals, and families the houses are built under residential real estate. The residential type contains townhouses, single-family homes, condominiums, apartments, and other types of living arrangements. The permanent improvements such as bridges, water, fences, trees, homes, minerals, and buildings attached to the land, made by naturally & humans including real estate. Raw land, commercial, residential, industrial, and special uses are five main categories of real estate.



The covid-19 pandemic impacted the Scandinavian residential real estate market. Decreasing supply of raw materials, lockdown across the globe, and supply chain disorders forced companies to close down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Scandinavian Residential Real Estate Market Trends, Drivers, Restraints, and Opportunities

• Increasing number of household development project is estimated to boost the market.


• Rapid innovations in construction sector are the major factor fueling the market.


• Lack of awareness about residential real estate is projected to restrict the market expansion during the forecast period.


• High price of services is anti