Even we were surprised by some of the following facts.
The U.S. housing market is a massive industry, one that incorporates not only elements of real estate, but of banking (both commercial and investment), appraising, marketing, advertising and the law, to name a few!
Such a gargantuan field is bound to surprise, and thanks to a new report from Placester, we’ve collected some truly mind-blowing facts about real estate in the U.S.
133,026,000
The number of housing units in the U.S.
$25.7 trillion
The combined value of those housing units
$18.1 trillion
The combined GDP of the European Union – in other words, U.S. housing alone is larger than the GDP of the EU!
2 million
The number of people employed by the real estate industry
166,140
The number of agents and brokers working today, according to the Census Bureau
1.4%
The share of the civilian population working in real estate
84%
The share of real estate firms that are independent, non-franchised companies; 13 percent are franchises, 3 percent corporate subsidies
4 out of 5
The ratio of real estate firms who have a single office and specialize in residential brokerage
10.8%
The rate that total employment is expected to increase from 2012 to 2022 (that’s 15.6 million people!)
These are some interesting numbers.
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