GITNUXREPORT 2025

Real Estate Industry Statistics

Digital searches dominate, housing prices rise, investors favor urban, sustainable properties.

Jannik Lindner

Jannik Linder

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

First published: April 29, 2025

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Key Statistics

Statistic 1

Commercial real estate transactions in North America exceeded $650 billion in 2023

Statistic 2

The global commercial real estate vacancy rate is approximately 11% as of 2023, indicating a tight market

Statistic 3

About 70% of commercial real estate transactions in 2023 involved properties in urban centers

Statistic 4

The average cost per square foot for commercial real estate in major U.S. markets is approximately $400-$600

Statistic 5

The construction cost index in the U.S. increased by 4.5% in 2023 due to inflation, affecting new developments

Statistic 6

The global real estate market is valued at approximately $10.5 trillion

Statistic 7

Real estate development accounts for approximately 13% of global GDP

Statistic 8

The global luxury real estate market accounts for roughly $290 billion annually

Statistic 9

Real estate crowdfunding platforms grew by over 30% in 2023, raising more than $3 billion globally

Statistic 10

The global real estate investment trust (REIT) market size reached around $1 trillion in 2023

Statistic 11

The global real estate market for short-term rentals grew by over 20% in 2023, valued at more than $80 billion annually

Statistic 12

The average annual return on real estate investments globally is estimated at about 10%, varying by region and asset class

Statistic 13

The median home price in the United States reached $428,700 in 2023

Statistic 14

The average rent for a single-family home in the U.S. was $1,833 per month in 2023

Statistic 15

Nearly 50% of U.S. renters are concerned about rising rent prices

Statistic 16

The average property tax rate in the U.S. is about 1.1% of the property's assessed value

Statistic 17

Approximately 45% of real estate transactions involve some form of mortgage financing

Statistic 18

Nearly 80% of real estate transactions in 2023 involved online platforms

Statistic 19

The average length of a home sale process in the U.S. is approximately 60 days

Statistic 20

About 10% of U.S. homes are considered "aging homes," that are over 50 years old

Statistic 21

The average home size in the U.S. has increased to approximately 2,500 square feet in 2023

Statistic 22

Urbanization rate globally is about 56%, which drives real estate development in cities

Statistic 23

The average annual rent increase in major U.S. cities ranged from 3% to 7% in 2023

Statistic 24

US housing inventory hit a record low in 2023, with only about 3 months’ supply available, indicating a seller’s market

Statistic 25

The average closing cost for a home in the US is about 2% to 5% of the purchase price

Statistic 26

The US housing market experienced a 10% increase in new construction permits in 2023 compared to the previous year

Statistic 27

The percentage of homes in the U.S. that are multi-family units is about 20%

Statistic 28

The average real estate agent commission in the U.S. is approximately 5% of the property sale price

Statistic 29

Around 55 million housing units in the U.S. are considered affordable for households earning below the median income

Statistic 30

The average lifespan of residential buildings in developed countries is approximately 75-100 years

Statistic 31

The rate of homeownership in the U.S. is around 65%, showing relatively stable levels over recent years

Statistic 32

Residential property prices increased by an average of 8% globally in 2023, driven by inflation and demand

Statistic 33

Around 25% of U.S. housing stock is considered investment properties, including second homes and rentals

Statistic 34

Around 15% of U.S. homes are located in suburban areas, which have seen a population growth rate of 2.5% annually

Statistic 35

Nearly 60% of property transactions in developing countries are cash deals, reflecting less reliance on financing

Statistic 36

The number of building permits issued globally for residential construction increased by 12% in 2023 compared to 2022

Statistic 37

The proportion of mixed-use developments has increased by 20% over the past decade, becoming a popular urban planning trend

Statistic 38

The average annual property appreciation rate in the U.S. has been around 3% over the past decade, contributing to long-term wealth building

Statistic 39

The top five U.S. states for real estate investment return are Florida, Texas, Arizona, North Carolina, and Georgia

Statistic 40

Around 20% of real estate investors focus on green and sustainable properties, reflecting a growing trend

Statistic 41

Approximately 40% of real estate investors plan to increase their holdings in rental properties in 2023, reflecting ongoing demand for passive income streams

Statistic 42

Approximately 90% of homebuyers use the internet during their home search

Statistic 43

The average homeownership tenure in the U.S. is about 8 years

Statistic 44

More than 60% of homebuyers in 2023 were first-time buyers

Statistic 45

The average down payment for first-time homebuyers is around 6%

Statistic 46

Millennials now comprise approximately 43% of homebuyers, making them the largest demographic group in the housing market

Statistic 47

Nearly 65% of U.S. home buyers in 2023 used a real estate agent

Statistic 48

The average age of a first-time homebuyer in the U.S. is 33 years old

Statistic 49

Approximately 35% of U.S. residential properties are owned outright without a mortgage

Statistic 50

The share of first-time homebuyers in the U.S. increased by 5 percentage points from 2022 to 2023, reaching 41%

Statistic 51

The median age of a homebuyer in the U.S. is 45 years old, reflecting an aging homeownership demographic

Statistic 52

The U.S. government’s FHA loan program accounts for about 7% of all home loans in 2023, facilitating homeownership for low-to-moderate-income households

Statistic 53

About 85% of homebuyers in 2023 considered “walkability” an important factor in choosing a neighborhood

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Key Highlights

  • Approximately 90% of homebuyers use the internet during their home search
  • The median home price in the United States reached $428,700 in 2023
  • The average homeownership tenure in the U.S. is about 8 years
  • The global real estate market is valued at approximately $10.5 trillion
  • More than 60% of homebuyers in 2023 were first-time buyers
  • The average down payment for first-time homebuyers is around 6%
  • Real estate development accounts for approximately 13% of global GDP
  • The average rent for a single-family home in the U.S. was $1,833 per month in 2023
  • Nearly 50% of U.S. renters are concerned about rising rent prices
  • The top five U.S. states for real estate investment return are Florida, Texas, Arizona, North Carolina, and Georgia
  • Commercial real estate transactions in North America exceeded $650 billion in 2023
  • The average property tax rate in the U.S. is about 1.1% of the property's assessed value
  • Approximately 45% of real estate transactions involve some form of mortgage financing

The real estate industry is experiencing a dynamic transformation in 2023, driven by technological advances, surging home prices averaging $428,700, a record-low housing inventory of just three months’ supply, and a growing trend toward sustainable and online property transactions that are shaping a global market valued at over $10.5 trillion.

Commercial and Rental Property Statistics

  • Commercial real estate transactions in North America exceeded $650 billion in 2023
  • The global commercial real estate vacancy rate is approximately 11% as of 2023, indicating a tight market
  • About 70% of commercial real estate transactions in 2023 involved properties in urban centers
  • The average cost per square foot for commercial real estate in major U.S. markets is approximately $400-$600

Commercial and Rental Property Statistics Interpretation

With over $650 billion in deals and an 11% vacancy rate, North America's commercial real estate market in 2023 resembles a high-stakes urban chessboard—expensive, competitive, and tightly contested, reflecting both resilient investment interest and limited supply.

Construction and Building Costs

  • The construction cost index in the U.S. increased by 4.5% in 2023 due to inflation, affecting new developments

Construction and Building Costs Interpretation

With construction costs soaring by 4.5% in 2023, developers might be finding that building dreams now comes with a heavier price tag, reshaping the future landscape of real estate development.

Global Real Estate Market Insights

  • The global real estate market is valued at approximately $10.5 trillion
  • Real estate development accounts for approximately 13% of global GDP
  • The global luxury real estate market accounts for roughly $290 billion annually
  • Real estate crowdfunding platforms grew by over 30% in 2023, raising more than $3 billion globally
  • The global real estate investment trust (REIT) market size reached around $1 trillion in 2023
  • The global real estate market for short-term rentals grew by over 20% in 2023, valued at more than $80 billion annually
  • The average annual return on real estate investments globally is estimated at about 10%, varying by region and asset class

Global Real Estate Market Insights Interpretation

With a staggering $10.5 trillion market value fueling 13% of global GDP, a billion-dollar luxury sector, rapid growth in crowdfunding and REITs, and an average 10% return, the real estate industry undeniably remains both a titan of economic influence and an enticing playground for savvy investors.

Housing Market Trends and Data

  • The median home price in the United States reached $428,700 in 2023
  • The average rent for a single-family home in the U.S. was $1,833 per month in 2023
  • Nearly 50% of U.S. renters are concerned about rising rent prices
  • The average property tax rate in the U.S. is about 1.1% of the property's assessed value
  • Approximately 45% of real estate transactions involve some form of mortgage financing
  • Nearly 80% of real estate transactions in 2023 involved online platforms
  • The average length of a home sale process in the U.S. is approximately 60 days
  • About 10% of U.S. homes are considered "aging homes," that are over 50 years old
  • The average home size in the U.S. has increased to approximately 2,500 square feet in 2023
  • Urbanization rate globally is about 56%, which drives real estate development in cities
  • The average annual rent increase in major U.S. cities ranged from 3% to 7% in 2023
  • US housing inventory hit a record low in 2023, with only about 3 months’ supply available, indicating a seller’s market
  • The average closing cost for a home in the US is about 2% to 5% of the purchase price
  • The US housing market experienced a 10% increase in new construction permits in 2023 compared to the previous year
  • The percentage of homes in the U.S. that are multi-family units is about 20%
  • The average real estate agent commission in the U.S. is approximately 5% of the property sale price
  • Around 55 million housing units in the U.S. are considered affordable for households earning below the median income
  • The average lifespan of residential buildings in developed countries is approximately 75-100 years
  • The rate of homeownership in the U.S. is around 65%, showing relatively stable levels over recent years
  • Residential property prices increased by an average of 8% globally in 2023, driven by inflation and demand
  • Around 25% of U.S. housing stock is considered investment properties, including second homes and rentals
  • Around 15% of U.S. homes are located in suburban areas, which have seen a population growth rate of 2.5% annually
  • Nearly 60% of property transactions in developing countries are cash deals, reflecting less reliance on financing
  • The number of building permits issued globally for residential construction increased by 12% in 2023 compared to 2022
  • The proportion of mixed-use developments has increased by 20% over the past decade, becoming a popular urban planning trend
  • The average annual property appreciation rate in the U.S. has been around 3% over the past decade, contributing to long-term wealth building

Housing Market Trends and Data Interpretation

In 2023, the U.S. housing market's median price soaring to $428,700 amid record-low inventory and rising rents underscores a relentless pursuit of homeownership that’s increasingly driven by digital platforms, mortgage financing, and suburban expansion, all while property taxes and closing costs subtly chip away at buyer budgets—highlighting how affordability remains a complex dance of demand, supply, and evolving urban development.

Real Estate Investment and Development

  • The top five U.S. states for real estate investment return are Florida, Texas, Arizona, North Carolina, and Georgia
  • Around 20% of real estate investors focus on green and sustainable properties, reflecting a growing trend
  • Approximately 40% of real estate investors plan to increase their holdings in rental properties in 2023, reflecting ongoing demand for passive income streams

Real Estate Investment and Development Interpretation

With Florida, Texas, Arizona, North Carolina, and Georgia reigning as the top investment hotspots and a growing appetite for sustainable properties and rental portfolios, savvy investors are clearly betting on a future where green and income-generating real estate drive both profits and sustainability.

Residential and Homebuyer Demographics

  • Approximately 90% of homebuyers use the internet during their home search
  • The average homeownership tenure in the U.S. is about 8 years
  • More than 60% of homebuyers in 2023 were first-time buyers
  • The average down payment for first-time homebuyers is around 6%
  • Millennials now comprise approximately 43% of homebuyers, making them the largest demographic group in the housing market
  • Nearly 65% of U.S. home buyers in 2023 used a real estate agent
  • The average age of a first-time homebuyer in the U.S. is 33 years old
  • Approximately 35% of U.S. residential properties are owned outright without a mortgage
  • The share of first-time homebuyers in the U.S. increased by 5 percentage points from 2022 to 2023, reaching 41%
  • The median age of a homebuyer in the U.S. is 45 years old, reflecting an aging homeownership demographic
  • The U.S. government’s FHA loan program accounts for about 7% of all home loans in 2023, facilitating homeownership for low-to-moderate-income households
  • About 85% of homebuyers in 2023 considered “walkability” an important factor in choosing a neighborhood

Residential and Homebuyer Demographics Interpretation

In an era where nearly everyone taps the internet for home hunting and Millennials and first-timers dominate the market, homeownership averages around 8 years with a significant chunk owned outright—reminding us that in real estate, technology and generational shifts are rapidly reshaping a landscape where walkability and affordability remain key, yet the median buyer age edges closer to middle age.

Sources & References