Over the past decade, employment in the US real estate sector has shown consistent growth, rising from 1.37 million units in 2013 to 1.69 million units in 2023. The average year-on-year growth rate from 2013 to 2023 has varied, with the sector experiencing a peak growth rate of 4.45% in 2019. Specifically, the last two years observed growth rates of 1.28% in 2022 and 1.26% in 2023, leading to a CAGR of 1.67% over the last five years.

The future outlook from 2024 to 2028 indicates continued growth, albeit at a more moderate pace with a forecast 5-year CAGR of 0.89% and a total forecasted growth rate of 4.51%. Employment is projected to reach 1.78 million units by 2028.

Future trends to monitor: