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 Median Sales Price of Houses Sold for the United States (MSPUS) from Q1 1963 to Q4 2024 about sales, median, housing, and USA.

Key information about House Prices Growth

• US house prices grew 5.2% YoY in Sep 2024, following an increase of 6.2% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1992 to Sep 2024, with an average growth rate of 5.5%.
• House price data reached an all-time high of 17.7% in Sep 2021 and a record low of -12.4% in Dec 2008.

The year-end value of the S&P Case Shiller National Home Price Index amounted to 310.76 in December 2023. The index value was equal to 100 as of January 2000, so if the index value is equal to 130 in a given year, for example, it means that the house prices increased by 30 percent since 2000. S&P/Case Shiller U.S. home indices – additional informationThe S&P Case Shiller National Home Price Index is calculated on a monthly basis and is based on the prices of single-family homes in nine U.S. Census divisions: New England, Middle Atlantic, East North Central, West North Central, South Atlantic, East South Central, West South Central, Mountain and Pacific. The index is the leading indicator of the American housing market and one of the indicators of the state of the broader economy. The index illustrates the trend of home prices and can be helpful during house purchase decisions. When house prices are rising, a house buyer might want to speed up the house purchase decision as the transaction costs can be much higher in the future. The S&P Case Shiller National Home Price Index has been on the rise since 2011.The S&P Case Shiller National Home Price Index is one of the indices included in the S&P/Case-Shiller Home Price Index Series. Other indices are the S&P/Case Shiller 20-City Composite Home Price Index, the S&P/Case Shiller 10-City Composite Home Price Index and twenty city composite indices.

In 2021, Allegheny County Economic Development (ACED), in partnership with Urban Redevelopment Authority of Pittsburgh(URA), completed the a Market Value Analysis (MVA) for Allegheny County. This analysis services as both an update to previous MVA’s commissioned separately by ACED and the URA and combines the MVA for the whole of Allegheny County (inclusive of the City of Pittsburgh). The MVA is a unique tool for characterizing markets because it creates an internally referenced index of a municipality’s residential real estate market. It identifies areas that are the highest demand markets as well as areas of greatest distress, and the various markets types between. The MVA offers insight into the variation in market strength and weakness within and between traditional community boundaries because it uses Census block groups as the unit of analysis. Where market types abut each other on the map becomes instructive about the potential direction of market change, and ultimately, the appropriateness of types of investment or intervention strategies. This MVA utilized data that helps to define the local real estate market. The data used covers the 2017-2019 period, and data used in the analysis includes: Residential Real Estate Sales Mortgage Foreclosures Residential Vacancy Parcel Year Built Parcel Condition Building Violations Owner Occupancy Subsidized Housing Units The MVA uses a statistical technique known as cluster analysis, forming groups of areas (i.e., block groups) that are similar along the MVA descriptors, noted above. The goal is to form groups within which there is a similarity of characteristics within each group, but each group itself different from the others. Using this technique, the MVA condenses vast amounts of data for the universe of all properties to a manageable, meaningful typology of market types that can inform area-appropriate programs and decisions regarding the allocation of resources. Please refer to the presentation and executive summary for more information about the data, methodology, and findings.

The Report Covers US Office Real Estate Sector Outlook & Industry Trends and it is segmented by region (northeast, Midwest, south, and west) and by sector (information technology (it and Ites), manufacturing, bfsi (banking, financial services, and insurance), consulting, and other services). The market size and forecast are provided in terms of value (USD billion) for all the above segments.

House Price Index YoY in the United States remained unchanged at 4.80 percent in January. This dataset includes a chart with historical data for the United States FHFA House Price Index YoY.

Graph and download economic data for Housing Inventory: Median Days on Market in the United States (MEDDAYONMARUS) from Jul 2016 to Feb 2025 about median and USA.

The U.S. housing market has slowed, after 13 consecutive years of rising home prices. In 2021, house prices surged by an unprecedented 18 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 4.2 percent. That was lower than the long-term average of 4.4 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 2.96 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 389,000 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.

Nahb Housing Market Index in the United States decreased to 39 points in March from 42 points in February of 2025. This dataset provides the latest reported value for - United States Nahb Housing Market Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Snapshot img

Real Estate Market Size 2025-2029

The real estate market size is forecast to increase by USD 1,258.6 billion at a CAGR of 5.6% between 2024 and 2029.

The market is experiencing significant shifts and innovations, with both residential and commercial sectors adapting to new trends and challenges. In the commercial realm, e-commerce growth is driving the demand for logistics and distribution centers, while virtual reality technology is revolutionizing property viewings. Europe's commercial real estate sector is witnessing a rise in smart city development, incorporating LED lighting and data centers to enhance sustainability and efficiency. In the residential sector, wellness real estate is gaining popularity, focusing on health and well-being. Real estate software and advertising services are essential tools for asset management, streamlining operations, and reaching potential buyers. Regulatory uncertainty remains a challenge, but innovation in construction technologies, such as generators and renewable energy solutions, is helping mitigate risks.

What will be the Size of the Real Estate Market During the Forecast Period?

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The market continues to exhibit strong activity, driven by rising population growth and increasing demand for personal household space. Both residential and commercial sectors have experienced a rebound in home sales and leasing activity. The trend towards live-streaming rooms and remote work has further fueled demand for housing and commercial real estate. Economic conditions and local market dynamics influence the direction of the market, with interest rates playing a significant role in investment decisions. Fully furnished, semi-furnished, and unfurnished properties, as well as rental properties, remain popular options for buyers and tenants. Offline transactions continue to dominate, but online transactions are gaining traction.
The market encompasses a diverse range of assets, including land, improvements, buildings, fixtures, roads, structures, utility systems, and undeveloped property. Vacant land and undeveloped property present opportunities for investors, while the construction and development of new housing and commercial projects contribute to the market's overall growth.

How is this Real Estate Industry segmented and which is the largest segment?

The 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.

Type

  Residential
  Commercial
  Industrial


Business Segment

  Rental
  Sales


Manufacturing Type

  New construction
  Renovation and redevelopment
  Land development


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK


  South America

    Brazil


  Middle East and Africa

By Type Insights

The residential segment is estimated to witness significant growth during the forecast period.

The market encompasses the buying and selling of properties designed for dwelling purposes, including buildings, single-family homes, apartments, townhouses, and more. Factors fueling growth in this sector include the increasing homeownership rate among millennials and urbanization trends. The Asia Pacific region, specifically China, dominates the market due to escalating homeownership rates. In India, the demand for affordable housing is a major driver, with initiatives like Pradhan Mantri Awas Yojana (PMAY) spurring the development of affordable housing projects catering to the needs of lower and middle-income groups. The commercial real estate segment, consisting of office buildings, shopping malls, hotels, and other commercial properties, is also experiencing growth.

Furthermore, economic and local market conditions, interest rates, and investment opportunities in fully furnished, semi-furnished, unfurnished properties, and rental properties influence the market dynamics. Technological integration, infrastructure development, and construction projects further shape the real estate landscape. Key sectors like transportation, logistics, agriculture, and the e-commerce sector also impact the market.

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The Residential segment was valued at USD 1440.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 64% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia Pacific region holds the largest share of The market, dr

The global real estate market size was valued at USD 7,384.14 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 8,690.66 Billion by 2033, exhibiting a CAGR of 1.81% from 2025-2033. North America currently dominates the market in 2024, holding a significant market share of 33.4%. The market is experiencing steady growth driven by rapid urbanization, low interest rates, changing lifestyle trends, e-commerce growth, inflating disposable incomes of individuals, infrastructure development and improvements, remote work, demographic shifts, and favorable government policies.

IMARC Group provides an analysis of the key trends in each segment of the global real estate market, along with forecasts at the global, regional, and country levels from 2025-2033. The market has been categorized based on property, business, and mode.

The Affordable Housing Market is projected to grow at 5.9% CAGR, reaching $75.95 Billion by 2029. Where is the industry heading next? Get the sample report now!

Housing Index in Sweden decreased to 942 points in the fourth quarter of 2024 from 943 points in the third quarter of 2024. This dataset provides - Sweden House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Report Covers Real Estate Company in US and it is segmented by Type (Apartments and Condominiums, Villas and landed houses) and by Cities (New York, Los Angeles, San Francisco, Miami, Washington DC and Other Cities). The report offers market size and forecasts for luxury residential real estate market in US for all above segments.

The report covers Residential Real Estate Market in USA and is Segmented by Property Type (Apartments and Condominiums, Landed Houses and Villas). The report offers market size and forecasts for the residential real estate market in the United States in value (USD billion) for all the above segments.

DisclaimerBefore using this layer, please review the 2018 Rochester Citywide Housing Market Study for the full background and context that is required for interpreting and portraying this data. Please click here to access the study. Please also note that the housing market typologies were based on analysis of property data from 2008 to 2018, and is a snapshot of market conditions within that time frame. For an accurate depiction of current housing market typologies, this analysis would need to be redone with the latest available data.About the DataThis is a webmap of a polygon feature layer containing the boundaries of all census blockgroups in the city of Rochester. Beyond the unique identifier fields including GEOID, the only other field is the housing market typology for that blockgroup. The map is visualized based on market typology score with strongest market in pink, and weakest market in dark blue.Information from the 2018 Housing Market Study- Housing Market TypologiesThe City of Rochester commissioned a Citywide Housing Market Study in 2018 as a technical study to help inform development of the City's new Comprehensive Plan, Rochester 2034 , and retained czb, LLC - a firm with national expertise based in Alexandria, VA - to perform the analysis.Any understanding of Rochester’s housing market – and any attempt to develop strategies to influence the market in ways likely to achieve community goals – must begin with recognition that market conditions in the city are highly uneven. On some blocks, competition for real estate is strong and expressed by pricing and investment levels that are above city averages. On other blocks, private demand is much lower and expressed by above average levels of disinvestment and physical distress. Still other blocks are in the middle – both in terms of condition of housing and prevailing prices. These block-by-block differences are obvious to most residents and shape their options, preferences, and actions as property owners and renters. And, importantly, these differences shape the opportunities and challenges that exist in each neighborhood, the types of policy and investment tools to utilize in response to specific needs, and the level and range of available resources, both public and private, to meet those needs. The City of Rochester has long appreciated that a one-size-fits-all approach to housing and neighborhood strategy is inadequate in such a diverse market environment, and that is no less true today. To concisely describe distinct market conditions and trends across the city in this study, a Housing Market Typology was developed using a wide range of indicators to gauge market health and investment behaviors. This section of the Citywide Housing Market Study introduces the typology and its components. In later sections, the typology is used as a tool for describing and understanding demographic and economic patterns within the city, the implications of existing market patterns on strategy development, and how existing or potential policy and investment tools relate to market conditions.Overview of Housing Market Typology PurposeThe Housing Market Typology in this study is a tool for understanding recent market conditions and variations within Rochester and informing housing and neighborhood strategy development. As with any typology, it is meant to simplify complex information into a limited number of meaningful categories to guide action. Local context and knowledge remain critical to understanding market conditions and should always be used alongside the typology to maximize its usefulness.Geographic Unit of Analysis The Block Group – a geographic unit determined by the U.S. Census Bureau – is the unit of analysis for this typology, which utilizes parcel-level data. There are over 200 Block Groups in Rochester, most of which cover a small cluster of city blocks and are home to between 600 and 3,000 residents. For this tool, the Block Group provides geographies large enough to have sufficient data to analyze and small enough to reveal market variations within small areas.Four Components for CalculationAnalysis of multiple datasets led to the identification of four typology components that were most helpful in drawing out market variations within the city:• Terms of Sale• Market Strength• Bank Foreclosures• Property DistressThose components are described one-by-one on in the full study document (LINK), with detailed methodological descriptions provided in the Appendix.A Spectrum of Demand The four components were folded together to create the Housing Market Typology. The seven categories of the typology describe a spectrum of housing demand – with lower scores indicating higher levels of demand, and higher scores indicating weaker levels of demand. Typology 1 are areas with the highest demand and strongest market, while typology 3 are the weakest markets. For more information please visit: https://www.cityofrochester.gov/HousingMarketStudy2018/

Housing Index in the United States increased to 436.50 points in January from 435.80 points in December of 2024. This dataset provides the latest reported value for - United States House Price Index MoM Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for All-Transactions House Price Index for the United States (USSTHPI) from Q1 1975 to Q4 2024 about appraisers, HPI, housing, price index, indexes, price, and USA.

In 2017, the County Department of Economic Development, in conjunction with Reinvestment Fund, completed the 2016 Market Value Analysis (MVA) for Allegheny County. A similar MVA was completed with the Pittsburgh Urban Redevelopment Authority in 2016. The Market Value Analysis (MVA) offers an approach for community revitalization; it recommends applying interventions not only to where there is a need for development but also in places where public investment can stimulate private market activity and capitalize on larger public investment activities. The MVA is a unique tool for characterizing markets because it creates an internally referenced index of a municipality’s residential real estate market. It identifies areas that are the highest demand markets as well as areas of greatest distress, and the various markets types between. The MVA offers insight into the variation in market strength and weakness within and between traditional community boundaries because it uses Census block groups as the unit of analysis. Where market types abut each other on the map becomes instructive about the potential direction of market change, and ultimately, the appropriateness of types of investment or intervention strategies.

The 2016 Allegheny County MVA does not include the City of Pittsburgh, which was characterized at the same time in the fourth update of the City of Pittsburgh’s MVA. All calculations herein therefore do not include the City of Pittsburgh. While the methodology between the City and County MVA's are very similar, the classification of communities will differ, and so the data between the two should not be used interchangeably.

Allegheny County's MVA utilized data that helps to define the local real estate market. Most data used covers the 2013-2016 period, and data used in the analysis includes:

•Residential Real Estate Sales; • Mortgage Foreclosures; • Residential Vacancy; • Parcel Year Built; • Parcel Condition; • Owner Occupancy; and • Subsidized Housing Units.

The MVA uses a statistical technique known as cluster analysis, forming groups of areas (i.e., block groups) that are similar along the MVA descriptors, noted above. The goal is to form groups within which there is a similarity of characteristics within each group, but each group itself different from the others. Using this technique, the MVA condenses vast amounts of data for the universe of all properties to a manageable, meaningful typology of market types that can inform area-appropriate programs and decisions regarding the allocation of resources.

During the research process, staff from the County and Reinvestment Fund spent an extensive amount of effort ensuring the data and analysis was accurate. In addition to testing the data, staff physically examined different areas to verify the data sets being used were appropriate indicators and the resulting MVA categories accurately reflect the market.

Please refer to the report (included here as a pdf) for more information about the data, methodology, and findings.