45 Real Estate Stats Agents Should Know in 2024

There are many stats real estate agents should know with the ever-evolving landscape. The industry trends are tough to keep tabs on and even tougher to predict. Agents need to stay on top of a host of different trends and factors — a challenge that’s rarely straightforward.

house for sale in todays real estate market

To help agents stay up-to-date, we‘ve compiled a list of 38 key statistics that cover some of the most pressing issues real estate professionals face. This includes changing digital trends, potential clients’ generational differences, and the impact of pandemic-related workplace shifts.

Let’s dive in.

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The Real Estate Landscape in 2024

What does this tell us?

According to Business Insider, 2023 was a weak year for selling homes. Full-year sales were at 4.09 million units in 2023. That’s the lowest mark since 1995. Full-year sales in 2023 hit 4.09 million units, the lowest mark since 1995. The prices for homes, existing and new, rose last year. Buyers are still facing higher mortgage rates and low inventory. However, mortgage rates have started to decline as the year closed out.

Real Estate in the Digital Age Statistics

Realtor Technology Use

What does this tell us?

It appears that the real estate industry is keeping pace with the rising tide of digital transformation. Newer technology has become woven into the fabric of most realtors’ day-to-day operations — with an increasing emphasis being placed on social media activity and solid web presence for lead generation and brand awareness.

Realtor Social Media Use

  • 48% of agents site social media ads as the most effective form of advertising. (The Close)
  • 53% of agents say video marketing on social media is more important than a website. (The Close)
  • 47% of real estate agents feel confident with their social media skills. (The Close)
  • 67% of agents said posting on social media is more important than having a blog. (The Close)
  • Of realtors in 2022, 80% said they planned on growing their social media presence to grow their business. (The Close)

What does this tell us?

Social media-savvy real estate professionals appear to spend their time on more “mature” social media platforms that lend themselves to straightforward, potentially long-form communication for lead generation — namely Facebook and LinkedIn.

Still, other, less conventional platforms that can add a visual element to real estate promotion are also emerging. Instagram is the second most popular social media forum for real estate agents, and more are looking to YouTube as a means of promoting their brands and gaining traction.

Who’s Buying Homes

What does this tell us?

As a realtor, you’re dealing with a diverse group of buyers demographically. Baby Boomers make up a fairly large number of buyers, so you’ll need to make sure that your practices and technology are accessible to this demographic.

Millennials are the future of home-buying. Beyond that, Millennials will likely make up the majority of your first-time home buyers. Be sure you have guidance for them along the way.

Beyond that, Generation X’s higher median income and inclination to buy more expensive

Commercial Real Estate Data

  • Of experts surveyed by Deloitte, ​​50% expected the cost of capital to worsen. Further, 49% expect capital availability to worsen as well. (Deloitte)
  • CRE companies are not prepared to meet environmental compliance regulations. Nearly 60% of respondents said their firm did not have the data, processes, or controls necessary to meet compliance standards. (Deloitte)
  • 40% of corporate real estate chief financial officers say they plan to reduce spending in 2024. (Deloitte)
  • As of April 2023, 67% of surveyed bank lenders said they are tightening lending standards for corporate real estate purchases. (Deloitte)
  • Of experts surveyed by Deloitte, 72% said that their organizations are piloting, implementing, or using AI solutions. (Deloitte)
  • As of June 2023, CRE property sales dropped by 59% worldwide. (Deloitte)
  • Sales dropped by 63% in the U.S., 62% in Europe, and 50% in the APAC region. (Deloitte)

What does this tell us?

Shifts in working style, with the rise of hybrid and remote work, continue to impact CRE. Beyond that, a tough economic environment is expected to shape the industry through 2024. If you work that niche, you‘re probably already hip to that change. If not, it’s something you should remain mindful of.

Tackling the Market

The real estate industry is never static — and if you want to keep up with it, you need to stay on top of emerging trends in both the practice‘s broader landscape and your niche within it. It’s a fast-paced field, so consistently conducting research on how it’s shifting is in your best interest if you want to be the best agent you can be.

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