GITNUXREPORT 2026

Real Estate Services Industry Statistics

The real estate services industry is experiencing steady growth with significant technological adoption.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

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Statistic 1

There were 1.52 million real estate agents in the U.S. in 2023, per NAR.

Statistic 2

Average real estate agent commission rate was 5.49% in U.S. residential sales in 2023.

Statistic 3

86% of home buyers used a real estate agent in 2023, unchanged from prior year.

Statistic 4

U.S. real estate brokerage employment grew 2.3% to 420,000 jobs in 2023.

Statistic 5

Top 1% of U.S. real estate agents closed 20% of all transaction volume in 2023.

Statistic 6

Average gross commission income for U.S. Realtors was $54,300 in 2023.

Statistic 7

65% of U.S. real estate brokers reported increased use of transaction coordinators in 2023.

Statistic 8

Number of licensed real estate brokers in California exceeded 200,000 in 2023.

Statistic 9

Dual agency transactions accounted for 12% of U.S. residential sales in 2023.

Statistic 10

41% of U.S. Realtors held a broker's license in 2023.

Statistic 11

Female agents made up 66% of NAR membership in 2023.

Statistic 12

Average age of U.S. real estate agents was 56 years in 2023.

Statistic 13

23% of agents entered the industry within the last two years as of 2023.

Statistic 14

Top brokerages controlled 35% of U.S. transaction sides in 2023.

Statistic 15

Agent attrition rate averaged 30% annually in large U.S. brokerages 2023.

Statistic 16

89% of buyers found their agent via referral or repeat business in 2023.

Statistic 17

Commercial brokers averaged $250,000 GCI in top markets 2023.

Statistic 18

15% growth in team-based brokerages in U.S. from 2022-2023.

Statistic 19

U.S. commercial real estate vacancy rate for office space was 19.6% in Q4 2023.

Statistic 20

Global industrial real estate market size reached $1.2 trillion in 2023, with 6.8% CAGR projected.

Statistic 21

U.S. retail real estate net absorption was 45 million sq ft in 2023.

Statistic 22

Office leasing volume in U.S. major markets totaled 180 million sq ft in 2023, down 25% YoY.

Statistic 23

U.S. multifamily construction starts hit 472,000 units in 2023.

Statistic 24

Average U.S. office asking rent rose 2.1% to $33.15 psf in 2023.

Statistic 25

Industrial vacancy rate in U.S. was 5.7% at end of 2023.

Statistic 26

Retail sales per sq ft in top U.S. malls averaged $650 in 2023.

Statistic 27

U.S. hotel transaction volume reached $28 billion in 2023.

Statistic 28

Data center leasing in U.S. surged 35% to 1,200 MW in 2023.

Statistic 29

U.S. office market saw negative net absorption of 66 million sq ft in 2023.

Statistic 30

Asking rents for U.S. industrial space averaged $8.49 psf NNN in 2023.

Statistic 31

U.S. multifamily rent growth slowed to 0.9% YoY in Q4 2023.

Statistic 32

Retail vacancy rate in U.S. stood at 5.3% end of 2023.

Statistic 33

Construction pipeline for U.S. hotels included 5,200 projects totaling 640,000 rooms in 2023.

Statistic 34

Flex space absorption in U.S. reached 25 million sq ft in 2023.

Statistic 35

U.S. commercial mortgage delinquency rate hit 6.1% in Q4 2023.

Statistic 36

Life sciences real estate leasing totaled 12.5 million sq ft in top U.S. markets 2023.

Statistic 37

U.S. self-storage occupancy rate was 93.2% average in 2023.

Statistic 38

Grocery-anchored retail centers had 4.8% vacancy in U.S. 2023.

Statistic 39

The U.S. real estate services industry revenue reached $213.5 billion in 2023, marking a 4.2% increase from 2022.

Statistic 40

Global real estate services market size was valued at $4.76 trillion in 2023 and is projected to grow to $7.8 trillion by 2030 at a CAGR of 7.2%.

Statistic 41

In 2022, real estate brokerage commissions accounted for 52% of total industry revenue in the U.S., totaling approximately $110 billion.

Statistic 42

The European real estate services sector contributed €1.2 trillion to GDP in 2023, representing 7.5% of total EU GDP.

Statistic 43

U.S. real estate services industry saw a 15% revenue growth in property management services post-COVID, reaching $45 billion in 2023.

Statistic 44

Asia-Pacific real estate services market grew by 8.9% YoY in 2023, driven by urbanization in China and India.

Statistic 45

In 2023, the U.S. real estate appraisal services segment generated $12.4 billion, up 3.1% from prior year.

Statistic 46

Global real estate leasing services revenue hit $1.8 trillion in 2022, with a forecasted CAGR of 5.6% through 2028.

Statistic 47

U.S. real estate services M&A activity reached 450 deals worth $67 billion in 2023.

Statistic 48

The Canadian real estate services industry revenue was CAD 28.5 billion in 2023, with 2.1% growth.

Statistic 49

U.S. real estate services industry revenue reached $213.5 billion in 2023, marking a 4.2% increase from 2022.

Statistic 50

Global real estate services market size was valued at $4.76 trillion in 2023 and is projected to grow to $7.8 trillion by 2030 at a CAGR of 7.2%.

Statistic 51

In 2022, real estate brokerage commissions accounted for 52% of total industry revenue in the U.S., totaling approximately $110 billion.

Statistic 52

The European real estate services sector contributed €1.2 trillion to GDP in 2023, representing 7.5% of total EU GDP.

Statistic 53

U.S. real estate services industry saw a 15% revenue growth in property management services post-COVID, reaching $45 billion in 2023.

Statistic 54

Asia-Pacific real estate services market grew by 8.9% YoY in 2023, driven by urbanization in China and India.

Statistic 55

In 2023, the U.S. real estate appraisal services segment generated $12.4 billion, up 3.1% from prior year.

Statistic 56

Global real estate leasing services revenue hit $1.8 trillion in 2022, with a forecasted CAGR of 5.6% through 2028.

Statistic 57

U.S. real estate services M&A activity reached 450 deals worth $67 billion in 2023.

Statistic 58

The Canadian real estate services industry revenue was CAD 28.5 billion in 2023, with 2.1% growth.

Statistic 59

PropTech investment in real estate services reached $18.5 billion globally in 2023.

Statistic 60

72% of U.S. real estate agents used CRM software daily in 2023.

Statistic 61

Virtual tour usage in U.S. listings increased 40% YoY to 65% adoption in 2023.

Statistic 62

AI-driven property valuation tools were used by 28% of brokerages in 2023.

Statistic 63

Blockchain-based real estate transactions piloted in 15 U.S. states in 2023.

Statistic 64

ESG compliance in real estate services rose to 55% of portfolios in 2023.

Statistic 65

Drone photography used in 42% of luxury U.S. listings in 2023.

Statistic 66

Remote work influenced 35% of commercial leasing decisions in 2023.

Statistic 67

Sustainability certifications covered 48% of new U.S. commercial builds in 2023.

Statistic 68

Big data analytics adopted by 51% of U.S. brokerages in 2023.

Statistic 69

Metaverse virtual property sales reached $500 million globally in 2023.

Statistic 70

60% of millennials prefer iBuying platforms for residential sales.

Statistic 71

IoT devices in smart homes grew 25% to 1.5 billion units managed 2023.

Statistic 72

Predictive analytics improved lead conversion by 22% for agents using it in 2023.

Statistic 73

Fractional ownership platforms facilitated $2.3 billion in transactions 2023.

Statistic 74

78% of property managers used cloud-based software in 2023.

Statistic 75

Climate risk assessments integrated into 35% of appraisals 2023.

Statistic 76

U.S. median home sales price rose 5.7% YoY to $417,700 in 2023, per NAR data.

Statistic 77

Existing-home sales in the U.S. totaled 4.09 million units in 2023, down 19% from 2022.

Statistic 78

U.S. housing starts increased by 1.6% to 1.41 million units in 2023.

Statistic 79

Inventory of homes for sale in U.S. rose 15.8% YoY to 1.18 million units by end of 2023.

Statistic 80

U.S. single-family home sales accounted for 76% of total residential transactions in 2023.

Statistic 81

Average days on market for U.S. homes increased to 61 days in 2023 from 44 in 2022.

Statistic 82

U.S. residential mortgage originations totaled $1.62 trillion in 2023, down 44% from 2022 peak.

Statistic 83

Homeownership rate in U.S. stood at 65.7% in Q4 2023, stable from prior year.

Statistic 84

U.S. condo sales represented 7% of total residential market in 2023, with median price $372,000.

Statistic 85

New home sales in U.S. averaged 668,000 units annually in 2023.

Statistic 86

U.S. median existing-home price surged 4.2% YoY to $389,800 in Q4 2023.

Statistic 87

U.S. homes sold above list price dropped to 28% in 2023 from 34% in 2022.

Statistic 88

Pending home sales index rose 4.1% in December 2023, first gain in six months.

Statistic 89

U.S. millennial homebuyers (ages 27-42) comprised 38% of purchases in 2023.

Statistic 90

First-time buyer share of U.S. market fell to 32% in 2023.

Statistic 91

U.S. suburban home price growth outpaced urban by 2.3% in 2023.

Statistic 92

FHA loan originations for residential purchases totaled 912,000 in FY2023.

Statistic 93

U.S. luxury home sales (over $1M) declined 50% YoY in Q4 2023.

Statistic 94

Rental vacancy rate for U.S. single-family homes was 0.9% in Q4 2023.

1/94

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Beneath the staggering global real estate services market poised to surge from $4.76 trillion to $7.8 trillion by 2030 lies a dynamic and highly competitive industry, where shifting property prices, evolving agent roles, and transformative technologies are continuously reshaping the landscape for buyers, sellers, and investors alike.

Key Takeaways

The U.S. real estate services industry revenue reached $213.5 billion in 2023, marking a 4.2% increase from 2022.
Global real estate services market size was valued at $4.76 trillion in 2023 and is projected to grow to $7.8 trillion by 2030 at a CAGR of 7.2%.
In 2022, real estate brokerage commissions accounted for 52% of total industry revenue in the U.S., totaling approximately $110 billion.
U.S. median home sales price rose 5.7% YoY to $417,700 in 2023, per NAR data.
Existing-home sales in the U.S. totaled 4.09 million units in 2023, down 19% from 2022.
U.S. housing starts increased by 1.6% to 1.41 million units in 2023.
U.S. commercial real estate vacancy rate for office space was 19.6% in Q4 2023.
Global industrial real estate market size reached $1.2 trillion in 2023, with 6.8% CAGR projected.
U.S. retail real estate net absorption was 45 million sq ft in 2023.
There were 1.52 million real estate agents in the U.S. in 2023, per NAR.
Average real estate agent commission rate was 5.49% in U.S. residential sales in 2023.
86% of home buyers used a real estate agent in 2023, unchanged from prior year.
PropTech investment in real estate services reached $18.5 billion globally in 2023.
72% of U.S. real estate agents used CRM software daily in 2023.
Virtual tour usage in U.S. listings increased 40% YoY to 65% adoption in 2023.

The real estate services industry is experiencing steady growth with significant technological adoption.

Brokerage and Agents

There were 1.52 million real estate agents in the U.S. in 2023, per NAR.
Average real estate agent commission rate was 5.49% in U.S. residential sales in 2023.
86% of home buyers used a real estate agent in 2023, unchanged from prior year.
U.S. real estate brokerage employment grew 2.3% to 420,000 jobs in 2023.
Top 1% of U.S. real estate agents closed 20% of all transaction volume in 2023.
Average gross commission income for U.S. Realtors was $54,300 in 2023.
65% of U.S. real estate brokers reported increased use of transaction coordinators in 2023.
Number of licensed real estate brokers in California exceeded 200,000 in 2023.
Dual agency transactions accounted for 12% of U.S. residential sales in 2023.
41% of U.S. Realtors held a broker's license in 2023.
Female agents made up 66% of NAR membership in 2023.
Average age of U.S. real estate agents was 56 years in 2023.
23% of agents entered the industry within the last two years as of 2023.
Top brokerages controlled 35% of U.S. transaction sides in 2023.
Agent attrition rate averaged 30% annually in large U.S. brokerages 2023.
89% of buyers found their agent via referral or repeat business in 2023.
Commercial brokers averaged $250,000 GCI in top markets 2023.
15% growth in team-based brokerages in U.S. from 2022-2023.

Brokerage and Agents Interpretation

While nearly everyone relies on a Realtor to buy a home, this army of 1.5 million agents is graying, dominated by referrals, and starkly divided between a top-earning elite and a large rank-and-file earning a modest living, hinting at an industry in a stable yet quietly turbulent state.

Commercial Market

U.S. commercial real estate vacancy rate for office space was 19.6% in Q4 2023.
Global industrial real estate market size reached $1.2 trillion in 2023, with 6.8% CAGR projected.
U.S. retail real estate net absorption was 45 million sq ft in 2023.
Office leasing volume in U.S. major markets totaled 180 million sq ft in 2023, down 25% YoY.
U.S. multifamily construction starts hit 472,000 units in 2023.
Average U.S. office asking rent rose 2.1% to $33.15 psf in 2023.
Industrial vacancy rate in U.S. was 5.7% at end of 2023.
Retail sales per sq ft in top U.S. malls averaged $650 in 2023.
U.S. hotel transaction volume reached $28 billion in 2023.
Data center leasing in U.S. surged 35% to 1,200 MW in 2023.
U.S. office market saw negative net absorption of 66 million sq ft in 2023.
Asking rents for U.S. industrial space averaged $8.49 psf NNN in 2023.
U.S. multifamily rent growth slowed to 0.9% YoY in Q4 2023.
Retail vacancy rate in U.S. stood at 5.3% end of 2023.
Construction pipeline for U.S. hotels included 5,200 projects totaling 640,000 rooms in 2023.
Flex space absorption in U.S. reached 25 million sq ft in 2023.
U.S. commercial mortgage delinquency rate hit 6.1% in Q4 2023.
Life sciences real estate leasing totaled 12.5 million sq ft in top U.S. markets 2023.
U.S. self-storage occupancy rate was 93.2% average in 2023.
Grocery-anchored retail centers had 4.8% vacancy in U.S. 2023.

Commercial Market Interpretation

Amidst the starkly diverging fortunes of commercial real estate, where record-breaking demand for industrial space and data centers coexists with a profound and persistent exodus from offices, the story is one of profound sectoral transformation rather than a uniform decline.

Market Overview

The U.S. real estate services industry revenue reached $213.5 billion in 2023, marking a 4.2% increase from 2022.
Global real estate services market size was valued at $4.76 trillion in 2023 and is projected to grow to $7.8 trillion by 2030 at a CAGR of 7.2%.
In 2022, real estate brokerage commissions accounted for 52% of total industry revenue in the U.S., totaling approximately $110 billion.
The European real estate services sector contributed €1.2 trillion to GDP in 2023, representing 7.5% of total EU GDP.
U.S. real estate services industry saw a 15% revenue growth in property management services post-COVID, reaching $45 billion in 2023.
Asia-Pacific real estate services market grew by 8.9% YoY in 2023, driven by urbanization in China and India.
In 2023, the U.S. real estate appraisal services segment generated $12.4 billion, up 3.1% from prior year.
Global real estate leasing services revenue hit $1.8 trillion in 2022, with a forecasted CAGR of 5.6% through 2028.
U.S. real estate services M&A activity reached 450 deals worth $67 billion in 2023.
The Canadian real estate services industry revenue was CAD 28.5 billion in 2023, with 2.1% growth.
U.S. real estate services industry revenue reached $213.5 billion in 2023, marking a 4.2% increase from 2022.
Global real estate services market size was valued at $4.76 trillion in 2023 and is projected to grow to $7.8 trillion by 2030 at a CAGR of 7.2%.
In 2022, real estate brokerage commissions accounted for 52% of total industry revenue in the U.S., totaling approximately $110 billion.
The European real estate services sector contributed €1.2 trillion to GDP in 2023, representing 7.5% of total EU GDP.
U.S. real estate services industry saw a 15% revenue growth in property management services post-COVID, reaching $45 billion in 2023.
Asia-Pacific real estate services market grew by 8.9% YoY in 2023, driven by urbanization in China and India.
In 2023, the U.S. real estate appraisal services segment generated $12.4 billion, up 3.1% from prior year.
Global real estate leasing services revenue hit $1.8 trillion in 2022, with a forecasted CAGR of 5.6% through 2028.
U.S. real estate services M&A activity reached 450 deals worth $67 billion in 2023.
The Canadian real estate services industry revenue was CAD 28.5 billion in 2023, with 2.1% growth.

Market Overview Interpretation

Despite the universal urge to own a piece of the planet, it seems the real money is in telling everyone else where to put their couch, how much it’s worth, and then managing the inevitable arguments over the thermostat.

PropTech and Trends

PropTech investment in real estate services reached $18.5 billion globally in 2023.
72% of U.S. real estate agents used CRM software daily in 2023.
Virtual tour usage in U.S. listings increased 40% YoY to 65% adoption in 2023.
AI-driven property valuation tools were used by 28% of brokerages in 2023.
Blockchain-based real estate transactions piloted in 15 U.S. states in 2023.
ESG compliance in real estate services rose to 55% of portfolios in 2023.
Drone photography used in 42% of luxury U.S. listings in 2023.
Remote work influenced 35% of commercial leasing decisions in 2023.
Sustainability certifications covered 48% of new U.S. commercial builds in 2023.
Big data analytics adopted by 51% of U.S. brokerages in 2023.
Metaverse virtual property sales reached $500 million globally in 2023.
60% of millennials prefer iBuying platforms for residential sales.
IoT devices in smart homes grew 25% to 1.5 billion units managed 2023.
Predictive analytics improved lead conversion by 22% for agents using it in 2023.
Fractional ownership platforms facilitated $2.3 billion in transactions 2023.
78% of property managers used cloud-based software in 2023.
Climate risk assessments integrated into 35% of appraisals 2023.

PropTech and Trends Interpretation

While a staggering $18.5 billion poured into PropTech and agents clung to their digital tethers, the real story of 2023 was the industry's clumsy, earnest, and occasionally surreal scramble to become a sci-fi movie—from drones photographing luxury homes and AI appraising them, to blockchains piloting deals and millennials casually buying fractions of the metaverse, all while trying desperately to remember their ESG scores and whether the building has good Wi-Fi for remote workers.

Residential Market

U.S. median home sales price rose 5.7% YoY to $417,700 in 2023, per NAR data.
Existing-home sales in the U.S. totaled 4.09 million units in 2023, down 19% from 2022.
U.S. housing starts increased by 1.6% to 1.41 million units in 2023.
Inventory of homes for sale in U.S. rose 15.8% YoY to 1.18 million units by end of 2023.
U.S. single-family home sales accounted for 76% of total residential transactions in 2023.
Average days on market for U.S. homes increased to 61 days in 2023 from 44 in 2022.
U.S. residential mortgage originations totaled $1.62 trillion in 2023, down 44% from 2022 peak.
Homeownership rate in U.S. stood at 65.7% in Q4 2023, stable from prior year.
U.S. condo sales represented 7% of total residential market in 2023, with median price $372,000.
New home sales in U.S. averaged 668,000 units annually in 2023.
U.S. median existing-home price surged 4.2% YoY to $389,800 in Q4 2023.
U.S. homes sold above list price dropped to 28% in 2023 from 34% in 2022.
Pending home sales index rose 4.1% in December 2023, first gain in six months.
U.S. millennial homebuyers (ages 27-42) comprised 38% of purchases in 2023.
First-time buyer share of U.S. market fell to 32% in 2023.
U.S. suburban home price growth outpaced urban by 2.3% in 2023.
FHA loan originations for residential purchases totaled 912,000 in FY2023.
U.S. luxury home sales (over $1M) declined 50% YoY in Q4 2023.
Rental vacancy rate for U.S. single-family homes was 0.9% in Q4 2023.

Residential Market Interpretation

The American housing market is currently a stubborn patient in a tense standoff: prices and new construction are creeping up defiantly while sales, loans, and first-time buyers are retreating sharply, leaving everyone to wonder who will blink first.