US Real Estate Service Market Outlook to 2028

Driven by Low Mortgage Rates and Population Growth and Urbanization

Region:North America

Author(s):Aparajita Raj

Product Code:KROD188

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Published on

July 2023

Total pages


About the Report

About the Report

Market Overview

The US Real Estate Service market has been experiencing robust growth, driven by a convergence of factors. Historically low mortgage rates encourage more people to buy homes or invest in real estate, as it makes financing more affordable. Low interest rates can increase demand for property and drive market growth.

Population growth, especially in urban areas, increases the demand for housing, commercial spaces, and infrastructure. This drives the need for real estate services, such as property management, leasing, and brokerage. A strong economy and job creation lead to increased consumer confidence, higher disposable incomes, and improved credit availability. These factors positively impact the real estate market, leading to higher demand for real estate services.

US Real Estate Service Market Revenue

Changing demographics, such as the rise of millennials entering the housing market and the increasing number of baby boomers looking to downsize, impact real estate service demands. Different age groups have diverse needs, influencing trends in buying, renting, and property management. Investments in infrastructure, such as transportation networks, schools, and amenities, can drive growth in certain regions. Improved infrastructure often leads to increased property values and greater demand for real estate services in those areas. Government Policies and Incentives: Government initiatives, such as tax incentives for homebuyers, affordable housing programs, and low-income housing tax credits, can influence the real estate market's growth trajectory.

Notable Leading Companies in US Real Estate Service Market

US Real Estate Service Market Analysis

  • The US real estate services market is projected to grow at a CAGR of approximately 7% during 2022-2027, despite concerns related to the COVID-19 pandemic.
  • Market growth is driven by the increasing demand for tools and platforms that cater to changing real estate preferences, as well as the need for better consumer support and service.
  • Property managers and real estate agents are leveraging property management software and adopting new technologies like artificial intelligence to enhance efficiency, expand their customer base, and keep property owners informed about property operations.


Key Trends by Market Segment:

By Property: On the basis of type, in 2022 the buildings segment dominated the real estate market, in terms of revenue, and is expected to witness growth at the highest CAGR during the forecast period. As per property, in 2022, the residential segment led the real estate market and is expected to exhibit highest CAGR in the near future. By business, the sales segment led the market in 2022, in terms of revenue and is anticipated to register highest CAGR during the forecast period. Region-wise, Asia-Pacific garnered the highest revenue in 2022; however, LAMEA is anticipated to register highest CAGR during the forecast period.

US Real Estate Service Market Segmentation By Property

By Geography: North America leads in outsourced facility management. The industry is undergoing a digital transformation for integrated services. Technology adoption drives efficiency in facility management and real estate services. US market players invest in building construction and partnerships, utilizing outsourcing for a competitive advantage. The US real estate market benefits from tech adoption, enhancing service delivery.

US Real Estate Service Market Segmentation By Geography

Competitive Landscape:

The US real estate market is fragmented. The report covers the major players operating in the United States Real Estate Services. The US real estate services market has both international and local players. Some of the prominent players in the industry are Jones Lang Lasalle Inc., CBRE Group, Brookfield properties LLC, Home services of America Inc., and Cushman & Wakefield Holdings Inc. The growing real estate market, adoption of new technology by real estate services providers, and a few other factors will increase the growth of the market.

US Real Estate Service Market Segmentation

Recent Developments:

      • CBRE Group acquired Buildings in January 2022 to meet growing demand for comprehensive occupancy management services. Building’s expertise in occupancy planning and technology will be integrated into CBRE's offerings, including space utilization data management and Computer-Aided Design (CAD) services.
      • In January 2022, Long & Foster Real Estate expanded in Richmond by partnering with Dew Realty, a local franchise established in 1978. Led by Bob Flanagan, Trey Flanagan, Lou Flanagan, and Sharon Coleman, Dew Realty offers a range of real estate services in Central Virginia, including residential resale, new construction, land, relocation, and commercial sales.


Future Outlook:

The future of the US real estate market holds several exciting possibilities driven by emerging trends and advancements. Technology will play a transformative role, with increased adoption of artificial intelligence, virtual reality, and data analytics enhancing the efficiency of property transactions, marketing, and customer service.

Smart homes and sustainable building practices will gain prominence, catering to environmentally conscious buyers and investors. As urbanization continues, mixed-use developments with integrated amenities will become more popular, creating vibrant and walkable communities. The demand for flexible and remote work options will impact property preferences, leading to a shift in the types of spaces people seek.

Additionally, demographics will influence the market, with the millennial generation entering the prime homebuying age and baby boomers seeking downsizing options. While challenges like housing affordability and supply constraints remain, the US real estate market's future appears dynamic, adaptive, and poised for continued growth and innovation.

Scope Of The Report

Scope of the Report

US Real Estate Services Market Segmentation

By Property Types



Other Property Types

By Service

Property Management

Valuation Services

Other Services

By Region





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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

  • First-time Homebuyers
  • Real Estate Investors
  • Empty Nesters and Retirees
  • Urban Dwellers
  • Corporate and Commercial Clients
  • Industry Associations
  • Consulting Agencies
  • Government Bodies & Regulating Authorities


Time Period Captured in the Report:

  • Historical Period: 2017-2022
  • Base Year: 2022
  • Forecast Period: 2022-2028


Major Players Mentioned in the Report:

  • Jones Lang Lasalle Incorporated
  • CBRE Group Inc.
  • Brookfield Properties LLC
  • Homeservices of America Inc.
  • Cushman & Wakefield Holdings Inc.
  • Silverpeak Real Estate Partners LP
  • The Long & Foster Companies Inc.
  • Obayashi Usa LLC
  • Realogy Group LLC
  • John L. Scott Inc.

Table of Contents

Table of Contents

1. Executive Summary

2. US Real Estate Service Market Overview

2.1 Taxonomy of US Real Estate Service Market

2.2 Industry Value Chain

2.3 Ecosystem

2.4 Government Regulations/Initiatives for US Real Estate Service Market 

2.5 Growth Drivers of US Real Estate Service Market

2.6 Issues and Challenges of US Real Estate Service Market

2.7 Impact of COVID-19 on US Real Estate Service Market

2.8 SWOT Analysis

3. US Real Estate Service Market Size, 2017 – 2022

4. US Real Estate Service Market Segmentation

4.1 By Property Types, 2017 - 2022

4.2 By Service, 2017 - 2022

4.3 By Regional Split (North/West/South/East), 2017 - 2022

5. Competitive Landscape

5.2 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

5.2 Strategies Adopted by Leading Players

5.3 Company Profiles – (Top 5 - 7 Major Players)

5.3.1 Jones Lang Lasalle Incorporated

5.3.2 CBRE Group Inc.

5.3.3 Brookfield Properties LLC

5.3.4 Home services of America Inc.

5.3.5 Cushman & Wakefield Holdings Inc

6. US Real Estate Service Future Market Size, 2022 – 2028

7. US Real Estate Service Future Market Segmentation

7.1 By Property Types, 2022 - 2028

7.2 By Service, 2022 - 2028

7.3 By Regional Split (North/West/South/East), 2022 - 2028

8. Analyst Recommendations

9. Research Methodology

10. Disclaimer

11. Contact Us

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Research Methodology

Research Methodology

Step: 1 Identifying Key Variables:

Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.

Step: 2 Market Building:

Collating statistics on real estate over the years, penetration of marketplaces and service providers ratio to compute revenue generated for US real estate market. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.

Step: 3 Validating and Finalizing:

Building market hypothesis and conducting CATIs with industry experts belonging to different companies to validate statistics and seek operational and financial information from company representatives.

Step: 4 Research output:

Our team has engaged with various real estate developers and property management firms to gather insights into their property portfolios, sales data, consumer preferences, and other pertinent factors. This invaluable information has played a crucial role in validating the statistics derived from our market analysis. By comprehending the distinct nature of different property segments and consumer behavior, we have ensured the accuracy and dependability of our real estate market data and research findings.

Research Methodology for US Real Estate Service Industry

Research Methodology for US Real Estate Service Market

Frequently Asked Questions

Frequently Asked Questions

01 How big is the US real estate market? 

The US Real Estate Market is expected to grow at a CAGR of ~7% in the upcoming years.

02 Where is real estate market booming in US? 

Tampa in Florida which has seen over 84,000 new jobs since 2021. New jobs means increasing demand for housing.

03 Who are the major players in the US Real Estate Service Market? 

Jones Lang Lasalle Incorporated, Realogy Group LLC, Cushman & Wakefield Holdings are some of the major players in US Real Estate Market.

04 What are the key factors driving the US Real Estate Market?

Low mortgage rate, population growth & technological advancements are driving the growth of US Real Estate Service market.

05 How many sectors are there in the US Real Estate Service industry? 

The main segments of the real estate sector are commercial real estate, residential real estate & industrial real estate.

06 What is the volume of real estate sales in US? 

The real estate sales dropped slightly in 2022. At 2021, the sales increased to 6.12 million homes which dropped to 5 million in 2022.

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