If you think buyers are browsing less, consider this: 92% of home searches start on mobile devices and existing home sales still totaled 4.09 million units in 2023, down 19% from the prior year. Price pressure and neighborhood priorities are colliding as 58% of buyers cite affordability and 84% say neighborhood quality matters most, even as 34% of buyers are millennials and many view about 10 homes before purchasing. The result is a market where online research often ends with a Realtor listing and where tech habits, from virtual tours to e signatures, increasingly shape the path to the closing table.
Key Takeaways
- 66% of recent buyers looked online first for properties in 2023.
- Top buyer priority was price/affordability at 58% in 2023 survey.
- 34% of buyers were millennials (born 1981-1996) in 2023.
- The U.S. real estate market saw 4.09 million existing-home sales in 2023, down 19% from 2022 due to high mortgage rates.
- Global real estate market size was valued at $3.7 trillion in 2023 and projected to reach $5.85 trillion by 2032 at a CAGR of 5.17%.
- U.S. residential real estate investment trusts (REITs) managed $1.2 trillion in assets under management as of Q4 2023.
- National Association of Realtors (NAR) membership was 1.52 million in 2023.
- 65% of U.S. Realtors are licensed sales agents, 35% brokers in 2023.
- Average Realtor age is 59 years old, with 24% under 50 in 2023 survey.
- 94% of Realtors use websites for listings, 73% use IDX in 2023.
- 50% of Realtors report virtual tours increased leads by 20% in 2023.
- AI tools adopted by 28% of Realtors for pricing analysis in 2023.
- Existing-home sales volume was 4.09 million units in 2023, seasonally adjusted annual rate.
- Median days on market for homes sold was 61 days in 2023, up from 29 in 2021.
- Pending home sales index fell 8% YoY to 71.5 in December 2023.
In 2023, buyers researched online, prioritized affordability and neighborhood quality, and overwhelmingly relied on Realtors.
Related reading
01 · Category
Consumer Insights19 stats
01
66% of recent buyers looked online first for properties in 2023.
02
Top buyer priority was price/affordability at 58% in 2023 survey.
03
34% of buyers were millennials (born 1981-1996) in 2023.
04
51% of sellers knew their home sale price before listing in 2023.
05
Average buyer viewed 10 homes before purchase in 2023.
06
24% of buyers purchased in a different state from last residence in 2023.
07
Neighborhood quality was important to 84% of buyers in 2023.
08
15% of buyers used social media daily in home search in 2023.
09
Home office space desired by 60% of buyers post-pandemic in 2023.
10
43% of sellers made no improvements before selling in 2023.
11
Median age of home sellers was 60 years old in 2023.
12
90% of buyers would use their agent again or recommend in 2023.
13
Energy efficiency features valued by 55% of buyers in 2023.
14
28% of buyers rented their first home before buying in 2023.
15
Sellers typically sold within 4 miles of previous home in 2023.
16
38% of buyers cited high home prices as biggest challenge in 2023.
17
Outdoor living spaces boosted sale prices by 12% on average in 2023.
18
62% of Gen Z buyers needed down payment assistance in 2023.
19
76% of sellers listed with Realtor after initial online research in 2023.
Interpretation
Consumer Insights Interpretation
The digital open house is where today's buyer, armed with instant listings and a stubborn budget, begins a surprisingly local, yet state-hopping quest for a neighborhood with good vibes and a home office, often trusting their agent to navigate a market where sellers, who often skip the renovations, hold most of the cards but rarely venture far from their old stomping grounds.
02 · Category
Market Overview20 stats
01
The U.S. real estate market saw 4.09 million existing-home sales in 2023, down 19% from 2022 due to high mortgage rates.
02
Global real estate market size was valued at $3.7 trillion in 2023 and projected to reach $5.85 trillion by 2032 at a CAGR of 5.17%.
03
U.S. residential real estate investment trusts (REITs) managed $1.2 trillion in assets under management as of Q4 2023.
04
Commercial real estate market in the U.S. totaled $20.3 trillion in property value in 2023.
05
U.S. homeownership rate stood at 65.7% in Q4 2023, slightly down from 66% pre-pandemic.
06
Rental vacancy rate in the U.S. was 6.6% in 2023, the lowest since 1984.
07
U.S. multifamily housing starts reached 442,000 units in 2023, up 25% from 2022.
08
The real estate services market generated $756.46 billion in revenue globally in 2023.
09
U.S. single-family housing starts were 954,000 units in 2023, down 8% from 2022.
10
PropTech investment worldwide hit $34 billion in 2023, focused on real estate tech.
11
U.S. real estate accounted for 13% of GDP in 2023, contributing $3.4 trillion.
12
Median home price in the U.S. rose to $417,700by end of 2023, up 4.3% YoY.
13
Housing affordability index fell to 98.2 in Q4 2023, the lowest since 1985.
14
U.S. real estate brokerage industry revenue reached $202 billion in 2023.
15
International real estate transactions by U.S. agents grew 12% in 2023.
16
U.S. luxury home market ($1M+) saw 2.5% sales increase in 2023 despite slowdown.
17
CRE delinquency rates rose to 6.5% for office properties in Q4 2023.
18
U.S. new home sales totaled 668,000 units in 2023, down 11% from 2022.
19
Real estate crowdfunding platforms raised $1.8 billion globally in 2023.
20
U.S. suburban housing demand surged 15% in 2023 post-pandemic migration.
Interpretation
Market Overview Interpretation
Despite a year of whiplash between skyrocketing asset values and plummeting affordability—with homes becoming luxury goods and rentals vanishing—the market’s sheer trillion-dollar inertia proves that, for better or worse, we are all still deeply invested.
03 · Category
Professional Demographics18 stats
01
National Association of Realtors (NAR) membership was 1.52 million in 2023.
02
65% of U.S. Realtors are licensed sales agents, 35% brokers in 2023.
03
Average Realtor age is 59 years old, with 24% under 50 in 2023 survey.
04
56% of Realtors are women, up from 49% a decade ago per 2023 data.
05
Median Realtor gross income was $54,300in 2023, down 3% from 2022.
06
87% of Realtors work as independent contractors in 2023.
07
20% of Realtors hold advanced designations like CRS in 2023.
08
Full-time Realtors averaged 12 transactions per year in 2023.
09
41% of Realtors entered the industry within the last 5 years as of 2023.
10
Realtor technology adoption rate is 95% using smartphones daily in 2023.
11
1 in 5 Realtors are Realtor party activists, volunteering 10+ hours yearly in 2023.
12
Median years of experience for Realtors is 10 years in 2023 survey.
13
63% of Realtors specialize in residential sales exclusively in 2023.
14
Part-time Realtors make up 11% of NAR members in 2023.
15
30% of Realtors have college degrees in business-related fields per 2023 data.
16
Realtor racial demographics: 80% White, 9% Hispanic, 6% Black in 2023.
17
Average brokerage firm size is 50 agents, with 70% independent in 2023.
18
25% of Realtors are team members, up 5% from 2020 in 2023.
Interpretation
Professional Demographics Interpretation
The venerable Realtor, averaging 59 years young with the smartphone savvy of a teen, soldiers on through dwindling incomes as a legion of enthusiastic newcomers discovers that 87% independence and 12 transactions a year is a challenging recipe for success.
More related reading
04 · Category
Technology and Future Trends23 stats
01
94% of Realtors use websites for listings, 73% use IDX in 2023.
02
50% of Realtors report virtual tours increased leads by 20% in 2023.
03
AI tools adopted by 28% of Realtors for pricing analysis in 2023.
04
Drone photography used in 41% of listings in 2023.
05
CRM software usage among Realtors reached 82% in 2023.
06
Blockchain for real estate transactions piloted in 5% of markets in 2023.
07
68% of consumers expect 3D tours in listings by 2025, per 2023 poll.
08
PropTech startups raised $16 billion in H1 2023 alone.
09
Mobile app transactions for rentals grew 35% YoY in 2023.
10
85% of Realtors use email marketing weekly in 2023.
11
VR home tours viewed 4x more than photos in 2023 trials.
12
Big data analytics improved agent productivity by 25% for 35% of users in 2023.
13
92% of home searches start on mobile devices in 2023.
14
E-signatures used in 97% of contracts by top brokerages in 2023.
15
Predictive pricing algorithms accurate within 2% for 60% of markets in 2023.
16
Social media lead generation accounts for 52% of new clients in 2023.
17
IoT smart home features in 22% of listings boosted values 5% in 2023.
18
Cloud-based MLS access sped up searches by 40% for agents in 2023.
19
Metaverse real estate sales hit $500 million globally in 2023.
20
75% of Realtors plan AI integration in 2024 per 2023 survey.
21
Digital twins for property modeling adopted by 12% of commercial Realtors in 2023.
22
Voice search for properties used by 18% of consumers in 2023.
23
Automated valuation models (AVMs) used in 70% of appraisals in 2023.
Interpretation
Technology and Future Trends Interpretation
While nearly all Realtors have embraced basic digital tools, their industry is racing toward a virtual, AI-driven future where listings soar on drones, homes sell via algorithms, and buyers increasingly expect to walk through a property in another dimension before signing a contract with their voice.
05 · Category
Transaction Metrics19 stats
01
Existing-home sales volume was 4.09 million units in 2023, seasonally adjusted annual rate.
02
Median days on market for homes sold was 61 days in 2023, up from 29 in 2021.
03
Pending home sales index fell 8% YoY to 71.5 in December 2023.
04
27% of home sales in 2023 were all-cash transactions, highest since 2014.
05
Average home sale price per square foot was $237in 2023 nationally.
06
First-time buyer share of purchases dropped to 26% in 2023 from 32% average.
07
Total U.S. home sales value reached $1.7 trillion in 2023.
08
Seller concessions occurred in 40% of transactions in late 2023.
09
New home sales price averaged $510,300in 2023, up 3% YoY.
10
Inventory of unsold homes rose to 3.5 months supply by end-2023.
11
89% of homes sold within 1% of list price in 2023.
12
Repeat buyers accounted for 74% of 2023 purchases.
13
Distressed sales (foreclosures/short sales) were only 1% of transactions in 2023.
14
Median closing cost for sellers was $13,500in 2023.
15
iBuyer transactions dropped 68% YoY to 12,000 homes in 2023.
16
32% of buyers waived appraisal contingency in 2023.
17
Average mortgage rate for 30-year fixed hit 7.79% peak in Oct 2023.
18
23% of 2023 sales involved multiple offers per home.
19
78% of buyers used Realtors as primary agent in 2023.
Interpretation
Transaction Metrics Interpretation
While soaring mortgage rates have cooled the frenzy for everyone but cash-rich repeat buyers, they've merely replaced the bidding war with a tense staring contest, where houses still sell near asking price but only after sitting long enough for sellers to nervously sweeten the deal.
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
Marie Larsen. (2026, February 13). Realtor Industry Statistics. Gitnux. https://gitnux.org/realtor-industry-statistics
MLA
Marie Larsen. "Realtor Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/realtor-industry-statistics.
Chicago
Marie Larsen. 2026. "Realtor Industry Statistics." Gitnux. https://gitnux.org/realtor-industry-statistics.
Sources & references
25 datasets cited across this report · attribution is report-level