In 2023, the output of real estate in the US reached USD 4.3185 trillion, reflecting a year-on-year increase of 3.83%. Over the last two years, growth rates were 4.01% in 2022 and 7.02% in 2021. The average annual growth rate (CAGR) over the last five years (2019-2023) was 4.59%, pointing to consistent expansion in the sector.
Future trends to watch for:
- Predicted CAGR of 2.61% from 2024 to 2028, indicating a slower pace of growth compared to previous years.- The industry is expected to grow by 13.75% over the next five years, reaching USD 5.0918 trillion by 2028.- Potential impacts of economic conditions, interest rate changes, and policy shifts on sector growth.
