GITNUXREPORT 2025

Housing Industry Statistics

Global housing market valued at $10.5 trillion, expanding with demand growth.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

The average size of new single-family homes in the U.S. increased from 2,392 sq ft in 2010 to 2,594 sq ft in 2022

Statistic 2

New housing starts in the U.S. increased by 5.8% in 2023 compared to 2022

Statistic 3

The global construction industry is projected to reach $15.5 trillion by 2030, growing at a CAGR of 5.7%

Statistic 4

Construction employment in the U.S. accounts for roughly 7% of total employment, with over 7 million people employed in the sector

Statistic 5

The average duration to build a new home in the U.S. is about 7-8 months, but can extend to over 12 months depending on location

Statistic 6

Globally, urban residents make up over 55% of the population and are expected to reach 68% by 2050, impacting housing demand

Statistic 7

Eco-friendly and sustainable homes accounted for nearly 10% of new residential construction in 2022, growing rapidly year-over-year

Statistic 8

Home renovation spending in the U.S. reached $350 billion in 2023, reflecting increasing investment in existing housing stock

Statistic 9

The average size of new build apartments in Europe is approximately 90-100 square meters, depending on the country

Statistic 10

Over 60% of new construction in Australia in 2023 was multi-family housing, reflecting a shift towards higher-density living

Statistic 11

The percentage of single-family homes built with energy-efficient features increased to approximately 15% in 2023, reflecting a growing focus on sustainability

Statistic 12

The use of 3D printing technology in housing construction saw a 25% growth in 2023, offering faster and cheaper building options

Statistic 13

The average cost to build a new home in the U.S. ranges between $150 and $300 per square foot, depending on location and materials

Statistic 14

The global modular construction market was valued at around $150 billion in 2023, projected to grow rapidly over the next decade

Statistic 15

The percentage of green-certified buildings in the U.S. increased to about 40% of new commercial and residential buildings in 2023, reflecting sustainability goals

Statistic 16

The average passive house standard home in Europe costs approximately 10-15% more to build than a traditional home but offers significant energy savings

Statistic 17

In Mexico, over 70% of new homes are constructed with informal methods, often leading to safety and quality concerns

Statistic 18

The global housing construction materials market was valued at $1.2 trillion in 2022, expected to grow primarily driven by developing economies

Statistic 19

The average size of student housing units in the U.S. increased by 12% from 2010 to 2022, reaching around 400 square feet per unit

Statistic 20

The number of tiny homes in the U.S. increased by approximately 20% in 2023, driven by affordability and minimalism trends

Statistic 21

The average construction cost index in the U.S. rose by about 4.5% in 2023, impacting overall housing development costs

Statistic 22

The market share of prefabricated buildings in the construction industry increased to around 15% in 2023, driven by efficiency needs

Statistic 23

The global construction labor shortage is projected to reach 25 million workers by 2030, impacting housing delivery timelines

Statistic 24

About 64% of Americans own their home as of 2023

Statistic 25

The median home price in the U.S. reached $435,000 in Q2 2023

Statistic 26

Upward of 30% of Americans are looking to buy a home within the next year

Statistic 27

US housing affordability has declined by 15% since 2020, largely due to rising home prices and mortgage rates

Statistic 28

The probability of a first-time buyer being under 30 years old is 33%, down from 40% a decade ago

Statistic 29

The average down payment on a home in the U.S. is around 6%, but many buyers opt for less or use government programs

Statistic 30

In 2023, approximately 80% of new home buyers financed their purchase through a mortgage, according to the Mortgage Bankers Association

Statistic 31

The average homeownership tenure in the U.S. is approximately 13 years, with younger homeowners staying slightly less than older homeowners

Statistic 32

The average mortgage interest rate in the U.S. was approximately 6.5% in 2023, up from around 3% in 2021, affecting affordability

Statistic 33

In 2022, about 22% of households in Europe owned their homes outright, with varying levels of mortgage debt across countries

Statistic 34

In Canada, the average house price in major cities increased by approximately 8% year-over-year in 2023, reaching CAD 716,000 in Toronto

Statistic 35

Around 40% of Americans aged 35-44 are homeowners, a slight increase from previous years, indicating a gradual recovery in homeownership rates among millennials

Statistic 36

In 2023, global housing prices increased at a rate of approximately 8%, with notable growth in emerging markets

Statistic 37

Housing affordability in the UK has declined by over 20% since 2017, largely due to rising mortgage costs and house prices

Statistic 38

In India, approximately 55% of urban households own their homes, with demand driven by urbanization and economic growth

Statistic 39

The percent of U.S. households with a mortgage was approximately 64% in 2023, the highest in over a decade, indicating strong financing activity

Statistic 40

Nearly 85% of new residential mortgages in Europe are fixed-rate, providing stability for homeowners

Statistic 41

The homeownership rate among Millennials in the U.S. is approximately 44% in 2023, a gradual increase from previous years, reflecting ongoing recovery

Statistic 42

Approximately 29% of U.S. homeowners aged 65 and older own their homes outright, highlighting aging demographics and wealth transfer

Statistic 43

The average prices of land plots in suburban areas of the U.S. increased by about 8% in 2023, driven by housing demand

Statistic 44

The share of households in South Korea owning their homes has increased to over 57% in 2023, driven by government policies and rising incomes

Statistic 45

The global housing market was valued at approximately $10.5 trillion in 2022

Statistic 46

The average age of existing U.S. homes is 40 years

Statistic 47

The U.S. housing inventory shortage stands at approximately 1.5 million units as of 2023

Statistic 48

The U.S. foreclosure rate dropped by 18% in 2023 compared to the previous year, indicating a strengthening housing market

Statistic 49

The global luxury housing market increased by 12% in value in 2023, driven by demand in Asia and North America

Statistic 50

The average size of apartments in urban China is about 70 square meters, with high demand for smaller, affordable units

Statistic 51

The share of vacant homes in the U.S. was about 12% in 2023, indicating significant surplus housing in some areas

Statistic 52

The housing market in Dubai grew by approximately 15% in 2023, driven by foreign investment and development projects

Statistic 53

Foreclosure filings in the U.S. declined to about 0.1% in 2023, showing improvements in housing finance stability

Statistic 54

In Japan, over 60% of homes are over 30 years old, indicating a high level of aging housing stock

Statistic 55

Globally, the number of households living in informal settlements or slums is estimated at over 1 billion, representing about 14% of the world population

Statistic 56

The global real estate investment market was valued at approximately $4.4 trillion in 2022, with Asia-Pacific accounting for nearly 40%

Statistic 57

The proportion of homes with solar panels in the U.S. increased to 3.5% in 2023, reflecting expanding renewable energy adoption

Statistic 58

Nearly 45% of renters in the U.S. are cost-burdened, spending more than 30% of their income on housing

Statistic 59

The average rent for a one-bedroom apartment in major U.S. cities is approximately $1,300 per month in 2023

Statistic 60

The rental vacancy rate in the U.S. was approximately 6.5% in 2023, indicating moderate supply levels

Statistic 61

In the EU, about 35% of households are rent-controlled, with policies varying significantly across countries

Statistic 62

In Germany, the average rent for a one-bedroom apartment in major cities is approximately €800 per month in 2023, with rent controls affecting rental costs

Statistic 63

Over 50% of new residential developments in India in 2023 incorporated smart home technologies, reflecting rising consumer demand

Statistic 64

Approximately 30% of new homes worldwide are built with access to high-speed internet, highlighting digital infrastructure integration

Statistic 65

The adoption of smart home technologies has increased globally by around 18% annually from 2020 to 2023, boosting demand for connected devices

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Key Highlights

The global housing market was valued at approximately $10.5 trillion in 2022
The average size of new single-family homes in the U.S. increased from 2,392 sq ft in 2010 to 2,594 sq ft in 2022
About 64% of Americans own their home as of 2023
The median home price in the U.S. reached $435,000 in Q2 2023
New housing starts in the U.S. increased by 5.8% in 2023 compared to 2022
The global construction industry is projected to reach $15.5 trillion by 2030, growing at a CAGR of 5.7%
The average age of existing U.S. homes is 40 years
Upward of 30% of Americans are looking to buy a home within the next year
The U.S. housing inventory shortage stands at approximately 1.5 million units as of 2023
Nearly 45% of renters in the U.S. are cost-burdened, spending more than 30% of their income on housing
The average rent for a one-bedroom apartment in major U.S. cities is approximately $1,300 per month in 2023
US housing affordability has declined by 15% since 2020, largely due to rising home prices and mortgage rates
The probability of a first-time buyer being under 30 years old is 33%, down from 40% a decade ago

As the global housing market surpasses $10.5 trillion and adapts to shifting trends like rising home sizes, increased mortgage rates, and the rapid growth of sustainable and smart homes, the housing industry stands at a pivotal crossroads shaping the future of urban living worldwide.

Construction and Development Trends

The average size of new single-family homes in the U.S. increased from 2,392 sq ft in 2010 to 2,594 sq ft in 2022
New housing starts in the U.S. increased by 5.8% in 2023 compared to 2022
The global construction industry is projected to reach $15.5 trillion by 2030, growing at a CAGR of 5.7%
Construction employment in the U.S. accounts for roughly 7% of total employment, with over 7 million people employed in the sector
The average duration to build a new home in the U.S. is about 7-8 months, but can extend to over 12 months depending on location
Globally, urban residents make up over 55% of the population and are expected to reach 68% by 2050, impacting housing demand
Eco-friendly and sustainable homes accounted for nearly 10% of new residential construction in 2022, growing rapidly year-over-year
Home renovation spending in the U.S. reached $350 billion in 2023, reflecting increasing investment in existing housing stock
The average size of new build apartments in Europe is approximately 90-100 square meters, depending on the country
Over 60% of new construction in Australia in 2023 was multi-family housing, reflecting a shift towards higher-density living
The percentage of single-family homes built with energy-efficient features increased to approximately 15% in 2023, reflecting a growing focus on sustainability
The use of 3D printing technology in housing construction saw a 25% growth in 2023, offering faster and cheaper building options
The average cost to build a new home in the U.S. ranges between $150 and $300 per square foot, depending on location and materials
The global modular construction market was valued at around $150 billion in 2023, projected to grow rapidly over the next decade
The percentage of green-certified buildings in the U.S. increased to about 40% of new commercial and residential buildings in 2023, reflecting sustainability goals
The average passive house standard home in Europe costs approximately 10-15% more to build than a traditional home but offers significant energy savings
In Mexico, over 70% of new homes are constructed with informal methods, often leading to safety and quality concerns
The global housing construction materials market was valued at $1.2 trillion in 2022, expected to grow primarily driven by developing economies
The average size of student housing units in the U.S. increased by 12% from 2010 to 2022, reaching around 400 square feet per unit
The number of tiny homes in the U.S. increased by approximately 20% in 2023, driven by affordability and minimalism trends
The average construction cost index in the U.S. rose by about 4.5% in 2023, impacting overall housing development costs
The market share of prefabricated buildings in the construction industry increased to around 15% in 2023, driven by efficiency needs
The global construction labor shortage is projected to reach 25 million workers by 2030, impacting housing delivery timelines

Construction and Development Trends Interpretation

Amid rising home sizes, booming global markets, and a labor crunch forecasted to shrink supply, the housing industry is increasingly balancing between sustainable innovation and the urgent need for speed—proving that in construction, size and efficiency are both growing, but not always in the same blueprint.

Homeownership and Property Prices

About 64% of Americans own their home as of 2023
The median home price in the U.S. reached $435,000 in Q2 2023
Upward of 30% of Americans are looking to buy a home within the next year
US housing affordability has declined by 15% since 2020, largely due to rising home prices and mortgage rates
The probability of a first-time buyer being under 30 years old is 33%, down from 40% a decade ago
The average down payment on a home in the U.S. is around 6%, but many buyers opt for less or use government programs
In 2023, approximately 80% of new home buyers financed their purchase through a mortgage, according to the Mortgage Bankers Association
The average homeownership tenure in the U.S. is approximately 13 years, with younger homeowners staying slightly less than older homeowners
The average mortgage interest rate in the U.S. was approximately 6.5% in 2023, up from around 3% in 2021, affecting affordability
In 2022, about 22% of households in Europe owned their homes outright, with varying levels of mortgage debt across countries
In Canada, the average house price in major cities increased by approximately 8% year-over-year in 2023, reaching CAD 716,000 in Toronto
Around 40% of Americans aged 35-44 are homeowners, a slight increase from previous years, indicating a gradual recovery in homeownership rates among millennials
In 2023, global housing prices increased at a rate of approximately 8%, with notable growth in emerging markets
Housing affordability in the UK has declined by over 20% since 2017, largely due to rising mortgage costs and house prices
In India, approximately 55% of urban households own their homes, with demand driven by urbanization and economic growth
The percent of U.S. households with a mortgage was approximately 64% in 2023, the highest in over a decade, indicating strong financing activity
Nearly 85% of new residential mortgages in Europe are fixed-rate, providing stability for homeowners
The homeownership rate among Millennials in the U.S. is approximately 44% in 2023, a gradual increase from previous years, reflecting ongoing recovery
Approximately 29% of U.S. homeowners aged 65 and older own their homes outright, highlighting aging demographics and wealth transfer
The average prices of land plots in suburban areas of the U.S. increased by about 8% in 2023, driven by housing demand
The share of households in South Korea owning their homes has increased to over 57% in 2023, driven by government policies and rising incomes

Homeownership and Property Prices Interpretation

Despite the bustling optimism of nearly two-thirds of Americans owning homes and a soaring median price of $435,000, the steep climb in mortgage rates, dwindling affordability, and shifting demographic patterns imply that for many, homeownership is becoming less of a sure thing and more of a cautious investment in stability amidst changing global and local markets.

Housing Market Overview

The global housing market was valued at approximately $10.5 trillion in 2022
The average age of existing U.S. homes is 40 years
The U.S. housing inventory shortage stands at approximately 1.5 million units as of 2023
The U.S. foreclosure rate dropped by 18% in 2023 compared to the previous year, indicating a strengthening housing market
The global luxury housing market increased by 12% in value in 2023, driven by demand in Asia and North America
The average size of apartments in urban China is about 70 square meters, with high demand for smaller, affordable units
The share of vacant homes in the U.S. was about 12% in 2023, indicating significant surplus housing in some areas
The housing market in Dubai grew by approximately 15% in 2023, driven by foreign investment and development projects
Foreclosure filings in the U.S. declined to about 0.1% in 2023, showing improvements in housing finance stability
In Japan, over 60% of homes are over 30 years old, indicating a high level of aging housing stock
Globally, the number of households living in informal settlements or slums is estimated at over 1 billion, representing about 14% of the world population
The global real estate investment market was valued at approximately $4.4 trillion in 2022, with Asia-Pacific accounting for nearly 40%
The proportion of homes with solar panels in the U.S. increased to 3.5% in 2023, reflecting expanding renewable energy adoption

Housing Market Overview Interpretation

While the global $10.5 trillion housing market and booming luxury sectors signal wealth and growth, aging homes in Japan, surplus U.S. inventory, and over a billion residents in informal settlements remind us that affordability and sustainable development are still the true frontiers in housing progress.

Land and Rental Market Dynamics

Nearly 45% of renters in the U.S. are cost-burdened, spending more than 30% of their income on housing
The average rent for a one-bedroom apartment in major U.S. cities is approximately $1,300 per month in 2023
The rental vacancy rate in the U.S. was approximately 6.5% in 2023, indicating moderate supply levels
In the EU, about 35% of households are rent-controlled, with policies varying significantly across countries
In Germany, the average rent for a one-bedroom apartment in major cities is approximately €800 per month in 2023, with rent controls affecting rental costs

Land and Rental Market Dynamics Interpretation

With nearly half of U.S. renters grappling with housing costs exceeding a third of their income amidst moderate vacancy rates, and European cities like Berlin offering some respite through rent controls, the global picture underscores a pressing need for balanced policies that both ensure affordability and stabilize the rental market.

Technological Advancements in Housing

Over 50% of new residential developments in India in 2023 incorporated smart home technologies, reflecting rising consumer demand
Approximately 30% of new homes worldwide are built with access to high-speed internet, highlighting digital infrastructure integration
The adoption of smart home technologies has increased globally by around 18% annually from 2020 to 2023, boosting demand for connected devices

Technological Advancements in Housing Interpretation

As smart homes become the new standard, with over half of India’s new developments embracing digital innovation and nearly a third worldwide connecting to high-speed internet, the housing industry is swiftly transforming from bricks and mortar to brains and bandwidth, signaling that in the future, homes will not just shelter us but also digitally serve us.