The “United States Real Estate Services Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.

The US real Estate Services is estimated to register a CAGR of approximately 7% during the forecast period.

The real Estate industry accounted for USD 3.6 trillion or 17.4% of the gross state product in 2018. Home prices were raised by 5% in 2019 compared to the previous year. The Realtors Confidence Index (RCI) recorded at 65 for detached single-family, 53 for townhomes, and 50 for condominium properties.

Commercial leasing volume increased by 2.4% in 2019 Q2. Leasing activity mainly increased in apartment properties, followed by Industrial warehouse and flex properties. In a small real estate market, the total sales volume in 2019 Q3 rose at a modest pace of 3% compared to the previous year.

In 2009, the rental vacancy rate was at 41%. By 2018, it reduced to 25.2%. In 2017, 43% of all US renters were living in single-family homes. Despite lower vacancy rates and high rental costs, nearly 65% of renters in 2016 were under the age of 35. During 2006-2016, the number of owners slightly dropped and renters increased by 25% in the same period.

In 2018, the American property management industry generated around USD 76 billion in revenue, Adoption of new technology, including the use of artificial intelligence, to increase availability and efficiency, are restructuring the industry like never before, making it easier to take care of client needs and keep property owners informed on the everyday operations of their properties. Property management has plenty of growth opportunities, as there has been an increase in the adoption of technology and can embrace the millennial market.

Key Market Trends

Increase in Demand for Facility Management:

North America holds the major market share in the outsourced facility management. Moreover, the global standard for integrated…