Market Size of North America Real Estate Brokerage Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 227.08 Billion |
| Market Size (2029) | USD 254.42 Billion |
| CAGR (2024 - 2029) | 2.30 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Real Estate Brokerage Market Analysis
The North America Real Estate Brokerage Market size is estimated at USD 227.08 billion in 2024, and is expected to reach USD 254.42 billion by 2029, growing at a CAGR of 2.30% during the forecast period (2024-2029).
- The North American real estate brokerage market is mainly driven by urbanization and the increasing demand for residential real estate.
- The region's expanding population is fueling the need for housing and infrastructure, propelling the real estate market. With the population on the rise, the demand for various infrastructures, including residential, commercial, and office spaces, is witnessing a notable surge.
- This surge presents a lucrative opportunity for real estate developers and investors. Understanding these demographic shifts empowers real estate stakeholders to make strategic decisions on investments, property types, and customized offerings to cater to the local demand. According to the Census Bureau, the US population is forecasted to peak at nearly 370 million by 2080 before gradually declining to around 366 million by 2100.
- The United States ranks as the world's third most populous nation, trailing only China and India, as per the Census Bureau's Population Clock. Indonesia and Pakistan complete the top five. Consequently, as urbanization intensifies, the brokerage market is poised for significant growth.
- In weaker multifamily markets, prices are anticipated to drop by up to 6%. However, with a significant reduction in new developments and the lengthy construction lead times, a robust recovery could materialize by late 2025. Industrial prices are likely to hold steady. Notably, new federal grants totaling USD 3.3 billion are catalyzing infrastructure enhancements, particularly in the Midwest, East Coast, and Gulf Coast states, bolstering the industrial and logistics sectors.
- Office prices are on the brink of stabilizing, even though a 7-10% decline is projected for 2024. Following this, it is anticipated that there will be a notable performance divergence between prime and secondary assets. While the retail sector is witnessing a scarcity in strip retail supply, which is fostering optimism, concerns loom over declining savings and escalating credit card debt, potentially curbing consumer spending.
