Labour costs in the US real estate sector have seen a steady increase from 87.91 billion USD in 2013 to 142.32 billion USD in 2023. Over the last two years, year-on-year variations were 2.85% in 2022 and 2.72% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years was 3.42%. For the forecasted period from 2024 to 2028, the predicted CAGR is 1.85%, with an overall growth rate of 9.61%, suggesting a deceleration compared to past trends.
Future trends to watch for:
- The impact of technological advancements and automation on labor demands and costs.
- Potential economic fluctuations and their influence on real estate workforce expenses.
- Policy changes impacting labor regulations and cost structures within the sector.
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