Overview of the Real Estate Market
- 5.34 million existing homes were sold in 2018, according to data from the National Association of REALTORS®. 667,000 newly constructed homes were sold in 2018, according to the U.S. Census Bureau.
- The Association of Real Estate License Law Officials (ARELLO) estimates that there are about 2 million active real estate licensees in the United States.
- According to the 2012 Economic Census, there are 86,004 real estate brokerage firms operating in the United States.
- Preliminary results from the U.S. Energy Information Administration’s Commercial Buildings Energy Consumption Survey (CBECS) show that there were 5.6 million commercial buildings in the United States in 2012, comprising 87.4 billion square feet of floorspace.
- There are approximately 121.6 million occupied housing units in the United States, according to the 2017 American Housing Survey. The typical owner-occupied home was built in 1978; the typical renter-occupied home was built in 1974. The typical home size is 1,500 square feet. The typical home owner is 55 years old and has lived in the current home for 14 years.
- In 2016, 63.7 % of families owned their primary residence, according to the Federal Reserve’s Survey of Consumer Finances.
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