Overview of the Real Estate Market
- 5.34 million existing homes were sold in 2018, according to data from the National Association of REALTORS®. 667,000 newly constructed(link is external) homes were sold in 2018, according to the U.S. Census Bureau.
- The Association of Real Estate License Law Officials (ARELLO)(link is external) estimates that there are about 2 million active real estate licensees in the United States.
- There are 86,095 real estate brokerage firms operating in the United States (source: U.S. Census Bureau, 2012 and 2007 Economic Censuses).
- Preliminary results from the U.S. Energy Information Administration’s Commercial Buildings Energy Consumption Survey (CBECS)(link is external) show that there were 5.6 million commercial buildings in the United States in 2012, comprising 87.4 billion square feet of floorspace.
- There are approximately 121.6 million occupied housing units in the United States, according to the 2017 American Housing Survey(link is external). The typical owner-occupied home was built in 1978; the typical renter-occupied home was built in 1974. The typical home size is 1,500 square feet. The typical home owner is 55 years old and has lived in the current home for 14 years.
- In 2016, 63.7% of families owned their primary residence, according to the Federal Reserve’s Survey of Consumer Finances(link is external).
NAR Membership Statistics
Members to date: 1,383,010 as of July 2019
Number of local associations: 1,148 as of January 2019