Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in North America is experiencing significant growth and development. Customer preferences are shifting towards more sustainable and energy-efficient properties, while trends in the market include a high demand for urban living and a focus on technology and innovation. Local special circumstances, such as the increasing popularity of vacation homes and the impact of immigration, also play a role in shaping the market. Underlying macroeconomic factors, such as low interest rates and a strong economy, contribute to the overall growth and stability of the Real Estate market in North America. Customer preferences in the North American Real Estate market are evolving in response to changing societal values and environmental concerns. There is a growing demand for sustainable and energy-efficient properties, as customers become more conscious of their carbon footprint and seek to reduce their environmental impact. Additionally, customers are increasingly interested in properties that offer amenities and features that promote a healthy and active lifestyle, such as access to parks, gyms, and bike paths. Trends in the market reflect the desire for urban living and the convenience it offers. Many people are choosing to live in urban areas to be closer to their workplaces, entertainment options, and cultural amenities. This has led to a high demand for properties in cities, resulting in rising prices and limited inventory. To meet this demand, developers are focusing on creating mixed-use developments that combine residential, commercial, and retail spaces, providing residents with easy access to everything they need. Technology and innovation are also shaping the Real Estate market in North America. Smart home technology, such as automated lighting, temperature control, and security systems, is becoming increasingly popular among buyers. Developers are incorporating these features into new construction projects to attract tech-savvy customers. Additionally, virtual reality and augmented reality are being used to enhance the home buying experience, allowing customers to virtually tour properties and visualize potential renovations. Local special circumstances further influence the Real Estate market in North America. The region is known for its vacation homes, with many people purchasing properties in popular tourist destinations or near natural attractions. This trend is driven by the desire for a second home or an investment property that can generate rental income. The influx of immigrants also impacts the market, as newcomers often seek affordable housing options and contribute to the overall demand for properties. Underlying macroeconomic factors contribute to the growth and stability of the Real Estate market in North America. Low interest rates make borrowing more affordable, encouraging buyers to enter the market. A strong economy and low unemployment rates provide consumers with the confidence and financial means to invest in real estate. These factors, combined with a growing population and limited housing supply, create a favorable environment for the Real Estate market to thrive in North America. In conclusion, the Real Estate market in North America is experiencing growth and development driven by evolving customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards sustainable and energy-efficient properties, the demand for urban living, and the focus on technology and innovation are shaping the market. Vacation homes and immigration also play a role in influencing the market. Overall, the Real Estate market in North America benefits from low interest rates, a strong economy, and a growing population, creating a favorable environment for continued growth.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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