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Industry Landscape
The US residential real estate market is currently experiencing a complex phase. While demand remains strong, particularly in certain segments, affordability challenges due to rising interest rates and high home prices are impacting transaction volumes. Inventory levels vary regionally, influencing price movements. Technology continues to reshape processes, emphasizing online tools and data analytics for both buyers and sellers.
Total Assets Under Management (AUM)
Existing Home Sales in United States
~4.07 million units (as of March 2024, seasonally adjusted annual rate)
(-4.3% (YoY, March 2024) CAGR)
- Existing home sales decreased due to higher mortgage rates.
- Limited inventory continues to be a challenge.
- Regional variations in sales performance are evident.
Total Addressable Market
1.9 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-powered Predictive Analytics
AI and machine learning algorithms are being used to predict market trends, property values, and buyer behavior, offering more accurate insights for pricing and marketing strategies.
Virtual Reality (VR) & Augmented Reality (AR) Tours
VR and AR technologies enable immersive virtual property tours, allowing buyers to experience homes remotely and visualize changes, reducing the need for physical showings.
Blockchain for Real Estate Transactions
Blockchain technology can streamline and secure real estate transactions by providing immutable records, reducing fraud, and accelerating closing processes through smart contracts.
Impactful Policy Frameworks
National Association of Realtors (NAR) Settlement Agreement (2024)
This settlement, awaiting court approval, will eliminate cooperative compensation rules, meaning sellers can no longer offer commissions to buyer agents through the MLS.
This policy will significantly alter commission structures and agent compensation models, potentially shifting the burden of buyer agent fees directly to buyers.
Federal Reserve Interest Rate Hikes (2022-2023, ongoing impact into 2024)
The Federal Reserve has raised the federal funds rate multiple times to combat inflation, directly impacting mortgage rates.
Higher mortgage rates directly reduce buyer affordability and demand, impacting transaction volumes and potentially home prices.
Community Reinvestment Act (CRA) Modernization (2023)
The CRA was updated to encourage banks to meet the credit needs of low and moderate-income communities, including mortgage lending.
This updated regulation could increase access to financing for a broader range of homebuyers, potentially stimulating demand in underserved areas.
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