Real estate lending and housing affordability are being pulled in opposite directions right now, with 30-year mortgage rates averaging 7.09% for the week ending June 13, 2024 while rents are still climbing at 5.5% year over year in Q1 2024. At the same time, the U.S. housing system is under pressure from bigger balances and tighter credit, including about $1.7 trillion in outstanding mortgage debt and widespread reports of tighter commercial mortgage standards. The result is a market where the biggest swings show up in the details, from transaction volume to cost burdens for renters.
Key Takeaways
- US homeownership rate was 65.5% in 2023
- Real estate and rental and leasing accounted for 7.2% of U.S. GDP in 2023 (BEA, current-dollar GDP share)
- Mortgage rates averaged 7.09% (30-year fixed-rate) in the week ending June 13, 2024
- $1.7 trillion in mortgage debt was outstanding in the U.S. at Q4 2023
- Commercial property insurance costs increased by 21% from 2020 to 2023 in the U.S. (Aon market report)
- In 2023, 58% of U.S. commercial mortgage lenders reported credit standards were tighter than in the previous quarter (SLOOS)
- About $1.3 trillion of U.S. CRE debt was scheduled to mature in 2025 (MBA analysis compiled by MBA using Trepp data)
- Single-family homes made up 66% of all U.S. residential sales by units in 2023 (NAR/REALTOR data on housing types)
- In 2023, U.S. real estate investment trusts (REITs) total market capitalization was $2.8 trillion (Nareit)
- U.S. REITs paid out $116.1 billion in dividends in 2023 (Nareit)
- 63% of renters reported difficulty covering housing costs in 2023 (JCHS, Affordable Housing America 2023)
- U.S. first-time homebuyers were 30% of purchases in 2023 (Nielsen/industry analysis summarized by trade press)
- Rents in the U.S. increased 5.5% year-over-year in Q1 2024 (Apartment List rent index release)
- In 2023, the U.S. share of mortgages originated by non-bank lenders was 48% by dollar volume (MBA estimate)
In 2023 and early 2024, homeownership dipped slightly while mortgage debt rose, rents climbed, and CRE markets tightened.
Related reading
01 · Category
Property And Space5 stats
01
US homeownership rate was 65.5% in 2023
02
Real estate and rental and leasing accounted for 7.2% of U.S. GDP in 2023 (BEA, current-dollar GDP share)
03
Mortgage rates averaged 7.09% (30-year fixed-rate) in the week ending June 13, 2024
04
U.S. average asking rent for apartments was $1,901in April 2024 (CoStar/RealPage per market data aggregation used by Apartments.com)
05
U.S. retail vacancy rate was 6.0% in Q1 2024 (CBRE Econometric Advisors)
Interpretation
Property And Space Interpretation
In 2023, property and space remained a major part of the economy, with real estate and rental and leasing at 7.2% of U.S. GDP, while affordability signals were mixed as mortgage rates averaged 7.09% in mid 2024 and average apartment asking rent hit $1,901 in April.
02 · Category
Market Size1 stats
01
$1.7 trillion in mortgage debt was outstanding in the U.S. at Q4 2023
Interpretation
Market Size Interpretation
As of Q4 2023, the U.S. held $1.7 trillion in outstanding mortgage debt, underscoring the sheer market size of the real estate lending ecosystem.
03 · Category
Risk And Financing7 stats
01
Commercial property insurance costs increased by 21% from 2020 to 2023 in the U.S. (Aon market report)
02
In 2023, 58% of U.S. commercial mortgage lenders reported credit standards were tighter than in the previous quarter (SLOOS)
03
About $1.3 trillion of U.S. CRE debt was scheduled to mature in 2025 (MBA analysis compiled by MBA using Trepp data)
04
The Fed estimates real estate-related loan and lease balances at about $10.7 trillion in 2023 for domestic banks (commercial banks)
05
In 2023, commercial real estate loan spreads over Treasuries widened by about 0.50 percentage points (MBA/industry commentary referencing market spread levels)
06
Mortgage origination volume in the U.S. was about $2.4 trillion in 2023 (origination data reported by MBA)
07
In 2023, 27% of renter households faced severe housing cost burden (spending 50%+ of income on rent) in the U.S.
Interpretation
Risk And Financing Interpretation
From 2020 to 2023, U.S. commercial property insurance costs rose 21% and, by 2023, 58% of lenders reported tighter credit standards while about $1.3 trillion of CRE debt is set to mature in 2025, signaling rising financing risk even as real estate lending balances remain large at roughly $10.7 trillion for domestic banks.
04 · Category
Industry Trends7 stats
01
Single-family homes made up 66% of all U.S. residential sales by units in 2023 (NAR/REALTOR data on housing types)
02
In 2023, U.S. real estate investment trusts (REITs) total market capitalization was $2.8 trillion (Nareit)
03
U.S. REITs paid out $116.1 billion in dividends in 2023 (Nareit)
04
Real estate-related crowdfunding volumes reached $2.1 billion globally in 2023 (compilation by industry source Cambridge Centre for Alternative Finance)
05
U.S. housing starts increased by 4.9% year over year in April 2024 (SAAR, Census/BLS series)
06
U.S. commercial real estate transaction volume was $257 billion in 2023 (Green Street / Real Capital Analytics compiled by trade press)
07
U.S. commercial real estate transaction volume was $430 billion in 2022 (Real Capital Analytics market review)
Interpretation
Industry Trends Interpretation
Across the Real Estate Market’s industry trends, single-family homes accounted for 66% of U.S. residential sales in 2023 while commercial transactions stayed large at $257 billion in 2023, reflecting a market where demand remains anchored in homes even as institutional and capital activity continues at significant levels.
More related reading
05 · Category
Affordability2 stats
01
63% of renters reported difficulty covering housing costs in 2023 (JCHS, Affordable Housing America 2023)
02
U.S. first-time homebuyers were 30% of purchases in 2023 (Nielsen/industry analysis summarized by trade press)
Interpretation
Affordability Interpretation
In 2023, affordability pressures were clear as 63% of renters struggled to cover housing costs and first-time homebuyers made up only 30% of purchases, showing that getting and staying housed remains a major challenge.
06 · Category
Rental Market1 stats
01
Rents in the U.S. increased 5.5% year-over-year in Q1 2024 (Apartment List rent index release)
Interpretation
Rental Market Interpretation
In the U.S. rental market, rents rose 5.5% year over year in Q1 2024, signaling clear continued upward pressure on apartment costs.
07 · Category
Market Finance1 stats
01
In 2023, the U.S. share of mortgages originated by non-bank lenders was 48% by dollar volume (MBA estimate)
Interpretation
Market Finance Interpretation
In 2023, non-bank lenders accounted for 48% of mortgage origination by dollar volume in the U.S., underscoring how market finance is increasingly shaped by non-bank financing channels.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Elif Demirci. (2026, February 13). Real Estate Market Statistics. Gitnux. https://gitnux.org/real-estate-market-statistics
MLA
Elif Demirci. "Real Estate Market Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/real-estate-market-statistics.
Chicago
Elif Demirci. 2026. "Real Estate Market Statistics." Gitnux. https://gitnux.org/real-estate-market-statistics.
Sources & references
24 datasets cited across this report · attribution is report-level
+8 additional datasets cited (not shown individually)