From 2013 to 2018, the Real Estate Other Than Housing Gross Output in the US displayed a robust and consistent growth pattern, with year-on-year variations typically between 6% and 8%. The period from 2019 onwards saw a more variable trend, with 2019 showing subdued growth at 1.73% and a slight contraction in 2021 at -2.13%, likely influenced by volatile market conditions. Recovery was observed in 2022 with an 8.28% increase, and moderate growth continued into 2023 with a 2.73% rise. In 2023, the Real Estate Other Than Housing Gross Output stood at 1563.3 Billion US Dollars. The compound annual growth rate (CAGR) over the last five years till 2023 was 2.71%. From 2024 onwards, forecasts suggest a steady growth trajectory with a 5-year CAGR of 1.88%, rising to 1754.8 Billion US Dollars by 2028.
Future trends to watch for include:
- Potential impacts of economic policies on real estate investment and development.
- Technological advancements including digital real estate platforms and smart building technologies.
- Environmental regulations influencing sustainable real estate practices.
- Evolving business needs impacting demand for commercial real estate.
