What is the current market size of the residential real estate market in the United States?

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What is the current market size of the residential real estate market in the United States?


90% of all real estate agents, Realtor, and brokers in the United States deal with residential real estate at least part of the time. This amounts to a total of around 2.7 residential real estate professionals. This value was triangulated by finding the total number of real estate licenses issued in the U.S. and the percentage among those working in the field of Residential Real estate.

MARKET SIZE:

The Association of Real Estate License Law Officials (ARELLO) estimates that around 3 million real estate licenses are active in the United States. According to The National Association of REALTORS® Research Department, 57% of all members exclusively practiced residential real estate and 33% percent of all members practiced both residential and commercial real estate. Therefore, 90% in total practice residential real estate. So, 90% of 3 million = 2.7 million.

Sales Figures:


In 2016, the average real estate professional sold 7 in the United States. On an average,
25% of homes were sold below $200,000
57% of homes were sold between $200,000- $500,000
15 % of homes were sold below $500,000- $1,000,000
3 % of homes were sold above $1,000,000

SEGMENATAION OF REALTORS:

Due to lack of precise definition used by of the term "Advance Realtor", I have provided the classification of Independent Realtor along with the percentage of who are exclusively in residential real estate as per The National Association of REALTORS® Research Department.

Broker in residential field (24%)
Broker Associate (14%)
Sales Agent (61%)
Appraiser (1%)

Online Tools:

91% of Realtor use social media to some extent. The top websites where Realtor place their listings are realtor.com, Zillow.com and Trulia.com.

Conclusion:

The residential real estate market has 2.7 million agents. Among the members of The National Association of REALTORS®, 57% exclusively practice residential real estate and the majority of the homes (57%) were sold between $200,000- $500,000 with each real estate professional selling 7 homes in the United States.









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