There was a tipping point last year that has major implications for agents, brokers, and brands focusing on the real estate industry. It will impact publishing and marketing strategies and tactics in the future. Consumer use of online search reached an all-time high of 92% for home-related search, and crested to almost 60% mobile and tablet usage on weekends. No one expected it to happen this rapidly. When you consider that there were over 5 million residential sales last year, the value of the online experience takes on a whole new meaning. This trend is not going away anytime soon. While people still need a human touch to solidify their buying decisions, their information gathering process is now dominated by the digital tools we have all come to rely on.
When I first started in real estate, I had no idea that the housing market represented such a large portion of our GDP (gross domestic product). The numbers are staggering, with roughly 133,026,000 housing units in the U.S., the combined value of these homes is about $25.7 trillion. That’s more than the combined GDP of the entire European Union ($18.1 trillion). I’m fascinated with real estate.
Below is a list of real estate marketing stats to jump up and down for, plus our SlideShare presentation that showcases even more real estate statistics. Let us know if we’ve missed any.
Today’s Real Estate Market
- There are roughly 133,026,000 housing units in the United States. The combined value of these homes is around $25.7 trillion. (Source) TWEET THIS
- Housing units in the USA are worth more than the combined GDP of the entire European Union ($18.1 trillion). (Source) TWEET THIS
- There were 5.09 million home sales in 2013, up 9.1% from 2012. (Source) TWEET THIS
- Home prices nationwide are expected to increase by 4% in 2014. (Source) TWEET THIS
- Mortgage rates remain low: mortgage payments currently consume 15.6% of monthly family income on average, down from 23.5% in 2006. (Source) TWEET THIS
The Real Estate Industry at a Glance
- The real estate industry employs over 2 million people, including more than 430,000 agents and brokers. That’s about 1.4% of the working civilian population of the U.S. (Source) TWEET THIS
- 84% of real estate firms are independent, non-franchised companies, 13% are independent franchises and 3% are corporate subsidiaries. (Source) TWEET THIS
- 4 out of 5 residential real estate brokerage firms have a single office. (Source) TWEET THIS
Real Estate Housing Supply
- 2014 began with around 1.86 million available homes. (Source) TWEET THIS
- Housing at less than a 5 month supply at the current sales pace. A normal market has about a 6–7 month supply of homes available. (Source) TWEET THIS
- According to the National Association of Homebuilders, new construction starts will increase by 25% in 2014. (Source) TWEET THIS
Real Estate Housing Demand
- Total employment in the U.S. is projected to increase between 2012 and 2022, by 15.6 million, or about 10.8%. (Source) TWEET THIS
- From January-August 2013, foreign investors acquired $22.8 billion in U.S. real estate. (Source) TWEET THIS
- At the start of 2014, there were 2.3 million housing units in shadow inventory, down from 2.9 million units in December 2012. (Source) TWEET THIS
- 13.5% of homes in the United States were vacant in the last quarter of 2013. That’s almost 18 million vacant homes. (Source) TWEET THIS
- 21% of all homes in foreclosure are vacant. TWEET THIS
- In 2013, nearly 37% of the country’s negative equity came from just five states–Nevada, Florida, Arizona, Ohio and Illinois. (Source) TWEET THIS
Real Estate Search
- 92% of people now use the Internet in their home search. (Source) TWEET THIS
- Between 2009 and 2013, real estate-related Google searches increased by 253%. (Source) TWEET THIS
- 69% of home shoppers who take action on a real estate website begin by typing a local term into a search engine. (Source) TWEET THIS
- On weekends, 59% of page views on real estate websites come from smartphones and tablets. (Source) TWEET THIS
Real Estate Advertising
- Zillow and Trulia will spend $65 million and $45 million, respectively, on national consumer marketing campaigns in 2014. (Source) TWEET THIS
- Total real estate ad spending totaled $27.2 billion in 2013 (up 9.7% over 2012). (Source) TWEET THIS
- The real estate industry now devotes 56% of its overall ad spend to online advertising. (Source) TWEET THIS
- Only 25% of real estate advertising going to print media like newspapers and direct mail in 2013. (Source) TWEET THIS
- In 2014, online ad spending in the real estate industry is set to reach nearly $16 billion, a 210% increase since 2009. (Source) TWEET THIS
The Most Incredible Real Estate Stats 2014 from Placester
What are the real estate statistics that intrigue you the most? Share your thoughts in the comments below!
