This statistic shows the Generation Z homeownership rate in the United States in 2016 and 2025, by ethnicity. In 2016, almost ** percent of Hispanic Americans between 15 and 24 years were homeowners, but this is set to rise to **** percent by 2025 when they will be 25 to 34 years.

This statistic shows the Millennial homeownership rate in the United States in 2016 and 2025, by ethnicity. In 2016, ** percent of Hispanic Americans between 25 and 34 years were homeowners, but this is set to rise to 45.9 percent by 2025 when they will be 35 to 44 years.

The homeownership rate in the United States amounted to nearly ** percent in the third quarter of 2024. While there are many factors that affect people’s decision to buy a house, the recent decrease can be attributed to the higher mortgage interest rates, which make taking out a mortgage less affordable for potential buyers, especially considering the surge in house prices in recent years. Which factors affect homeownership? Age and ethnicity have a strong correlation with homeownership. Baby boomers, for example, are twice as likely to own their home than Millennials. Also, the homeownership rate among white Americans is substantially higher than among any other ethnicity. How does the U.S. homeownership rate compare with other countries? Having a home is an integral part of the “American Dream”. Compared with selected European countries, the U.S. ranks alongside the United Kingdom, Cyprus, and Ireland. Many countries in Europe, however, exceed ** percent homeownership rate.

The homeownership rate was the highest among Americans in their early 70s and the lowest among people in their early 20s in 2024. In that year, approximately **** percent of individuals aged 70 to 74 resided in a residence they owned, compared to approximately ** percent among individuals under the age of 25. On average, **** percent of Americans lived in an owner-occupied home. The homeownership rate was the highest in 2004 but has since declined.

The homeownership rate in the United States declined slightly in 2023 and remained stable in 2024. The U.S. homeownership rate was the highest in 2004 before the 2007-2009 recession hit and decimated the housing market. In 2024, the proportion of households occupied by owners stood at 65.7 percent in 2024, 3.5 percentage points below 2004 levels. Homeownership since the recession The rate of homeownership in the U.S. fell in the lead up to the recession and continued to do so until 2016. Despite this trend, the share of Americans who perceived homeownership as part of their personal American dream remained relatively stable. This suggests that the financial hardship caused by the recession led to the fall in homeownership, rather than a change in opinion about the importance of homeownership itself. What the future holds for homeownership Homeownership trends vary from generation to generation. Homeownership among Americans over 65 years old is declining, whereas most Millennial renters plan to buy a home in the near future. This suggests that homeownership will remain important in the future, as Millennials are forecast to head most households over the next two decades.

The homeownership rate in the United States declined slightly in 2023 and remained stable in 2024. The U.S. homeownership rate was the highest in 2004 before the 2007-2009 recession hit and decimated the housing market. In 2024, the proportion of households occupied by owners stood at **** percent in 2024, *** percentage points below 2004 levels. Homeownership since the recession The rate of homeownership in the U.S. fell in the lead up to the recession and continued to do so until 2016. Despite this trend, the share of Americans who perceived homeownership as part of their personal American dream remained relatively stable. This suggests that the financial hardship caused by the recession led to the fall in homeownership, rather than a change in opinion about the importance of homeownership itself. What the future holds for homeownership Homeownership trends vary from generation to generation. Homeownership among Americans over 65 years old is declining, whereas most Millennial renters plan to buy a home in the near future. This suggests that homeownership will remain important in the future, as Millennials are forecast to head most households over the next two decades.

In a September 2020 survey among adults in the United States, ** percent of millennials with children said that they were currently saving up to purchase a home. On the other hand, ** percent of respondents said that while they expect to purchase a house in the future, they are currently not saving up to do so.In the United States, the 2020 homeownership rate reached **** percent.

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Real Estate Market Size 2025-2029

The real estate market size is valued to increase USD 1258.6 billion, at a CAGR of 5.6% from 2024 to 2029. Growing aggregate private investment will drive the real estate market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 64% growth during the forecast period.
By Type - Residential segment was valued at USD 1440.30 billion in 2023
By Business Segment - Rental segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 48.03 billion
Market Future Opportunities: USD 1258.60 billion
CAGR from 2024 to 2029 : 5.6%

Market Summary

In the dynamic realm of global real estate, private investment continues to surge, reaching an impressive USD 2.6 trillion in 2020. This significant influx of capital underscores the sector's enduring appeal to investors, driven by factors such as stable returns, inflation hedging, and the ongoing demand for shelter and commercial real estate space. Simultaneously, marketing initiatives have gained momentum, with digital platforms and virtual tours becoming increasingly popular.
However, regulatory uncertainty looms, posing challenges for market participants. Amidst this complex landscape, real estate remains a vital component of the global economy, continually evolving to meet the shifting needs of businesses and individuals alike.

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

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How is the Real Estate Market Segmented ?

The 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.

Type

  Residential
  Commercial
  Industrial


Business Segment

  Rental
  Sales


Manufacturing Type

  New construction
  Renovation and redevelopment
  Land development


Geography

  North America

    US
    Canada


  Europe

    Germany
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

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

Amidst the dynamic real estate landscape, the residential sector encompasses the buying and selling of various dwelling types, including single-family homes, apartments, townhouses, and more. This segment experiences continuous growth, fueled by increasing millennial homeownership rates and urbanization trends. Notably, the APAC region, specifically China, dominates the market share, driven by escalating homeownership numbers. Concurrently, the Indian real estate sector thrives due to the demand for affordable housing, with initiatives like Pradhan Mantri Awas Yojana (PMAY) spurring the development of affordable housing projects. In this evolving market, various aspects such as environmental impact studies, capital appreciation potential, title insurance coverage, building lifecycle costs, mortgage interest rates, and structural engineering analysis play crucial roles.

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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.

Property tax appeals, property insurance premiums, property tax assessments, property marketing strategies, building material pricing, property management software, land surveying techniques, zoning regulations compliance, architectural design features, building code compliance, multifamily property management, rental yield calculations, construction cost estimation, energy efficiency ratings, green building certifications, tenant screening processes, investment property returns, property development plans, geotechnical site investigations, sustainable building practices, due diligence procedures, HVAC system efficiency, property renovation costs, market value appraisals, building permit acquisition, and property valuation models significantly impact the sector's progression. As of 2021, the market is projected to reach a value of USD 33.3 trillion, underscoring its substantial influence on the global economy.

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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 APAC region held the largest share of the market in 2024, driven by factors such as rapid urbanization and increasing spending capacity. This trend is expected to continue during the forecast period. The overall health of the economy signi

In a ************** survey among adults in the United States, there were more people of color (POC)Millennials that were currently saving up to buy a house (** percent) than that there were White Non-Hispanic Millennials (** percent).In the United States, the 2020 homeownership rate reached **** percent.

Owning a home has traditionally been an integral part of the "American dream", but for millennials entering the housing market has been notoriously difficult. Between 2018 and 2022, the share of millennials in the United States who expect to always rent their home increased from **** to **** percent. As the youngest demographic in the housing market, people under 35 years have a homeownership rate much lower than any other generation.

Furniture Rent-to-Own Platform Market Outlook

According to our latest research, the global Furniture Rent-to-Own Platform market size reached USD 6.8 billion in 2024, reflecting robust demand across both developed and emerging economies. The market is projected to expand at a CAGR of 7.9% from 2025 to 2033, reaching an estimated USD 13.7 billion by 2033. This impressive growth trajectory is primarily fueled by shifting consumer preferences toward flexible ownership models, increasing urbanization, and a growing millennial workforce seeking cost-effective and hassle-free furnishing solutions.

One of the most significant growth factors propelling the Furniture Rent-to-Own Platform market is the increasing preference for asset-light lifestyles among urban consumers, particularly millennials and Gen Z. As homeownership rates decline and mobility increases, consumers are seeking alternatives to traditional furniture purchasing. Rent-to-own platforms offer a flexible, affordable, and convenient solution, allowing users to access high-quality furniture without the burden of large upfront costs or long-term commitments. Furthermore, the rise of remote work and frequent relocations has made temporary furniture solutions more attractive, further driving demand for these platforms. The integration of digital technologies, such as AI-driven personalization and seamless online interfaces, has also enhanced the customer experience, making furniture rental more accessible and appealing.

Another key driver is the burgeoning commercial sector’s adoption of furniture rent-to-own solutions. Startups, small businesses, and even large enterprises are increasingly leveraging these platforms to furnish offices, coworking spaces, and pop-up stores without significant capital expenditure. This trend is especially pronounced in metropolitan cities where real estate and operational costs are high. The rent-to-own model provides businesses with the agility to scale up or down based on their requirements, thus optimizing costs and minimizing waste. Additionally, the growing emphasis on sustainability and circular economy principles is encouraging both consumers and businesses to opt for rental solutions, as they promote reuse and reduce environmental impact.

The expansion of e-commerce and digital payment infrastructure has also played a pivotal role in the growth of the Furniture Rent-to-Own Platform market. Online platforms have democratized access to a wide variety of furniture options, enabling customers to browse, compare, and select products from the comfort of their homes. The proliferation of mobile applications and the integration of advanced logistics solutions have made the rental process seamless and efficient. This digital transformation has not only improved customer acquisition and retention for platform providers but has also facilitated the entry of new players, intensifying competition and fostering innovation within the industry.

From a regional perspective, North America currently dominates the market, accounting for the largest share in 2024, followed by Europe and Asia Pacific. The United States, in particular, has witnessed widespread adoption of rent-to-own platforms, driven by high urbanization rates, a large student population, and a dynamic housing market. However, the Asia Pacific region is expected to exhibit the fastest growth over the forecast period, supported by rapid urbanization, rising disposable incomes, and a burgeoning middle class. Emerging markets in Latin America and the Middle East & Africa are also showing promising potential, as digital adoption and awareness of rental models continue to rise.

Product Type Analysis

The Furniture Rent-to-Own Platform market is segmented by product type into Home Furniture, Office Furniture, Outdoor Furniture, and Others. Home furniture constitutes the largest segment, driven by the growing trend of renting sofas, beds, dining sets, and wardrobes among urban dwellers, students, and young professionals. The flexibility to frequently update home aesthetics without significant financial commitment has made rent-to-own platforms particularly attractive in this segment. Providers are increasingly offering customizable packages and subscription models that cater to varied lifestyle needs, further enhancing the appeal of home furniture rentals. The integration of smart and modular furniture options is also gaining traction, as consumers seek solutions that align with modern livi

The Millennial Housing Needs and Co-living Services market has evolved significantly in recent years, shaped by the unique lifestyle preferences and economic challenges faced by this generation. Millennials, now in their prime living years, are seeking flexible, affordable, and community-oriented living arrangements

In a September 2020 survey among adults in the United States, many respondents said that the COVID-19 pandemic did not change their interest in buying a home. Millennials were most likely to have changed their homeownership plans: ** percent of Millennials were more interested in buying a home due to the COVID-19 pandemic compared with **** percent of Baby Boomers.In the United States, the 2020 homeownership rate reached **** percent.

Residential Real Estate Market Outlook

The global residential real estate market size was valued at approximately $9.7 trillion in 2023 and is projected to reach an astounding $15.4 trillion by 2032, growing at a compound annual growth rate (CAGR) of 5.2%. This growth is driven by several factors, including increasing urbanization, rising disposable incomes, and the ongoing global shift towards homeownership as a stable investment. Demographic shifts, such as the growing number of nuclear families and millennials entering the housing market, also contribute significantly to this upward trend.

One of the primary growth factors for the residential real estate market is the increasing urbanization across the globe. As more people migrate to urban areas in search of better job opportunities and a higher standard of living, the demand for residential properties in cities continues to rise. This trend is particularly pronounced in developing countries, where rapid economic growth is accompanied by significant rural-to-urban migration. Additionally, the trend of urban redevelopment and the creation of smart cities are further fueling the demand for modern residential properties.

Another crucial growth factor is the rise in disposable incomes and improved access to financing options. With strong economic growth in many parts of the world, individual incomes have been rising, allowing more people to afford homeownership. Financial institutions are also playing a critical role by offering a variety of mortgage products with attractive interest rates and flexible repayment terms. This increased access to capital has enabled a broader section of the population to invest in residential real estate, thereby expanding the market.

Technological advancements and the digital transformation of the real estate sector are also contributing to market growth. The proliferation of online platforms and real estate technology (proptech) solutions has made the process of buying, selling, and renting properties more efficient and transparent. Virtual tours, online mortgage applications, and blockchain for property transactions are some of the innovations revolutionizing the industry. These technological advancements not only improve the customer experience but also attract tech-savvy millennials and Gen Z buyers.

Regionally, the Asia-Pacific region is experiencing significant growth in the residential real estate market. Countries like China and India, with their large populations and rapid urbanization, are at the forefront of this expansion. Government initiatives aimed at providing affordable housing and improving infrastructure are also playing a pivotal role. In contrast, mature markets like North America and Europe are witnessing steady growth driven by economic stability and continued investment in housing. Meanwhile, regions like Latin America and the Middle East & Africa are also showing promise, albeit at a slower pace, due to varying economic conditions and market maturity levels.

Property Type Analysis

The residential real estate market is segmented by property type, including single-family homes, multi-family homes, condominiums, townhouses, and others. Single-family homes are the most traditional and widespread type of residential property. They are particularly popular in suburban areas where space is more abundant. The demand for single-family homes continues to be driven by the desire for privacy, larger living spaces, and the ability to customize the property. These homes appeal especially to families with children and those looking to invest in a long-term residence.

Multi-family homes, which include duplexes, triplexes, and apartment buildings, are gaining traction, particularly in urban settings. These properties are attractive due to their potential for generating rental income and their ability to house multiple tenants. Investors find multi-family homes appealing as they offer a higher return on investment (ROI) compared to single-family homes. Additionally, the increasing trend of co-living and shared housing arrangements has bolstered the demand for multi-family properties in cities.

Condominiums, or condos, are another significant segment within the residential real estate market. Condos are particularly popular in urban areas where land is scarce and expensive. They offer a balance between affordability and amenities, making them an attractive option for young professionals and small families. Condominiums often come with added benefits such as maintenance services, security, and shared facilities like gyms and swimmin

The Residential Ready-to-Assemble (RTA) Kitchen Cabinet market is experiencing robust growth, driven by increasing demand for cost-effective, customizable, and convenient kitchen solutions. The market's ease of installation, affordability compared to custom cabinetry, and the rising popularity of DIY home renovation projects are key contributors to this expansion. Furthermore, the growing preference for modern and minimalist kitchen designs aligns well with the aesthetic versatility offered by RTA cabinets, which are available in a wide array of styles, colors, and finishes. We estimate the market size in 2025 to be around $15 billion, exhibiting a Compound Annual Growth Rate (CAGR) of approximately 7% throughout the forecast period (2025-2033). This steady growth trajectory is projected to continue, fueled by the expanding homeownership rate, especially among millennials and Gen Z, who are increasingly embracing online shopping and DIY projects. However, several factors could potentially restrain market growth. Fluctuations in raw material prices, particularly lumber and other materials used in cabinet manufacturing, could impact profitability and pricing. Competition from established players and the emergence of new entrants could also intensify. Additionally, consumer preferences may shift, influencing demand for specific cabinet styles and materials. Despite these potential challenges, the market's inherent advantages – affordability, convenience, and customization – are expected to drive continued growth, particularly in emerging markets where the demand for cost-effective housing solutions is high. Segmentation within the market reveals strong growth in online sales channels, as well as increasing demand for sustainable and eco-friendly cabinet options.

After millennials, Gen Z, or the adults born between 1997 and 2003, are next in line to enter the U.S. housing market. According to a survey conducted among over 15,000 respondents in the U.S., approximately 25 percent of Gen Zers were planning to purchase a home in the next 12 months as of June 2023. This was an increase from the same quarter in 2022 when ** percent of Zoomers were planning a home purchase. As house prices and interest rates continue to rise, the fluctuation in homebuyer sentiment can be seen among all generation groups.

In the presented European countries, the homeownership rate extended from 42.6 percent in Switzerland to as much as 95.9 percent in Albania. Countries with more mature rental markets, such as France, Germany, the UK, and Switzerland, tended to have a lower homeownership rate compared to the frontier countries, such as Lithuania or Slovakia. The share of house owners among the population of all 20 euro area countries stood at 64.5 percent in 2024. Average cost of housing Countries with lower homeownership rates tend to have higher house prices. In 2024, the average transaction price for a house was notably higher in Western and Northern Europe than in Eastern and Southern Europe. In Austria, one of the most expensive European countries to buy a new dwelling in, the average price was three times higher than in Greece. Looking at house price growth, however, the most expensive markets recorded slower house price growth compared to the mid-priced markets. Housing supply With population numbers rising across Europe, the need for affordable housing continues. In 2024, European countries completed between one and six housing units per 1,000 citizens, with Ireland, Poland, and Denmark responsible for heading the ranking. One of the major challenges for supplying the market with more affordable homes is the rising construction costs. In 2021 and 2022, housing construction costs escalated dramatically due to soaring inflation, which has had a significant effect on new supply.

The US mortgage lending market, a significant component of the broader financial landscape, is experiencing robust growth, driven by several key factors. Low interest rates in recent years stimulated demand, particularly for fixed-rate mortgages, fueling a surge in refinancing activity and new home purchases. The increasing homeownership aspirations among millennials and Gen Z, coupled with a persistent housing shortage in many areas, further contribute to market expansion. While home equity lines of credit (HELOCs) represent a smaller segment, their usage is expected to rise as homeowners tap into their equity for renovations or other investments. Competition in the sector is intense, with established commercial banks like Bank of America and Chase, alongside regional players such as PNC Bank and credit unions like PenFed, vying for market share. The shift towards online mortgage applications and processing offers convenience and efficiency, increasing accessibility and potentially driving down costs. However, challenges remain. Rising interest rates, inflation, and potential economic slowdown could temper future growth, impacting both affordability and demand. Moreover, stringent lending regulations and increased scrutiny of borrowers' creditworthiness may restrict lending practices. The market will likely see further consolidation among lenders, particularly smaller institutions. Despite these headwinds, the long-term outlook remains positive, projecting a continuation of moderate growth, particularly in segments catering to first-time homebuyers and those pursuing home improvements through HELOCs. Technological advancements and improved data analytics will play pivotal roles in shaping the competitive landscape and enhancing customer experience. The segmentation within the US mortgage lending market reflects diverse borrower needs and lender strategies. Fixed-rate mortgages remain the dominant product, providing predictable monthly payments. However, the rise of adjustable-rate mortgages and HELOCs provides borrowers with alternative financing options. The distribution channels are also varied, with both online and offline applications prevalent. The geographical distribution is concentrated, with the United States driving a significant portion of the overall market. Canada and Mexico contribute substantially to the North American market, while other regions show more moderate growth. Future market performance will depend critically on macroeconomic conditions, regulatory changes, and innovative financial products that cater to evolving consumer preferences. The increasing reliance on technology for lending, underwriting, and customer service will further reshape this dynamic and competitive market. This comprehensive report offers an in-depth analysis of the US mortgage lending market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, this report provides a detailed forecast (2025-2033) and analysis of the historical period (2019-2024). We delve into key market segments, trends, and growth drivers, providing valuable insights for stakeholders across the industry. This report is essential for investors, lenders, financial institutions, and anyone seeking to understand the dynamics of this multi-billion-dollar market. Keywords: US Mortgage Lending, Mortgage Market Trends, Home Equity Loans, Fixed Rate Mortgages, Mortgage Industry Analysis, Mortgage Rates, Real Estate Finance, Mortgage Lending Market Size, Commercial Banks, Credit Unions, Online Mortgages, Mortgage Regulations, Mortgage Acquisitions Recent developments include: August 2023: Spring EQ, a provider of home equity financing solutions, has entered into a definitive agreement to be acquired by an affiliate of Cerberus Capital Management, L.P., a global leader in alternative investing. The main aim of the partnership is to support Spring EQ's mission to deliver offerings and expand its leadership in the home equity financing market., June 2023: VIU by HUB, a digital insurance brokerage platform subsidiary of Hub International Limited, has entered into a new partnership with Unison, a home equity-sharing company. The collaboration will allow homeowners to compare insurance coverage quotes from various carriers and receive expert advice throughout the process.. Key drivers for this market are: Home Renovation Trends are Driving the Market. Potential restraints include: Home Renovation Trends are Driving the Market. Notable trends are: Home Equity Lending Market is Being Stimulated By Rising Home Prices.