The Real Estate industry manages properties, lands & buildings, through buying, renting or investing. Its value being highly depended on the economical market fluctuation.
Trends
- PropTech
- Big data
- AI & machine learning – ChatBots – Drones
- Virtual & augmented reality
- IoT – Energy efficiency & home security
- 3d home printing
Stats
- Interest rates climbed to 4.17% in March 2022
- Homebuying power increased 21% in 2021, but could decline in 2022
- Nearly 80% of senior citizens owned homes going into 2022
- Gen X is the biggest generation of homebuyers
- The median home price in 2022 is $357,300
- Six million houses sold in February 2022 (down 2.46% from last year)
- First-time homebuyers comprised 31% going into 2022
- 43% of homebuyers search online before contacting an agent
- 82% of millennials have some regrets about homeownership
- Finding the right property is the biggest obstacle for 53% of buyers
- 456,300 jobs generated in real estate-related activities in 2018 alone
- Projected job growth from 2016 to 2026 is at 6%
- The global real estate industry is expected to reach $48.9T by 2031
- Real estate management software market will reach $12.89 billion in 2025
Start-ups
- Zillow
- Trulia
- Redfin
- Evernest – Germany
- ServiceTitan – California
- NoBroker – India
- Fundrise – DC
- Rentberry – California
Key words
- Tech
- AI
- BigData
- Real Estate
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