The United States is one of the most developed countries across the globe. Real-estate is playing a pivotal role in the U.S. economy. The overall US economic activity determines the demands of real estate, which influences the market of residential and the commercial real estate property. As per the National Association of Realtors (NAR), in October 2020, the sale of an existing home hit its highest level since 2006. According to Renub Research new report, United States Real Estate Market is expected to reach USD 1,751 Billion by 2027.
In the United States, the market of Real estate is surging despite the pandemic COVID-19 crisis. For many Americans, the residence is the highest source of prosperity and investment. Non-Residential or Commercial construction includes lodging, Office, health care, Educational, temples, Amusement and recreate, transportation, manufacturing, etc. It provides a source of more revenue in return. As per research findings, United States Real Estate Industry was USD 1,208 Billion in 2020.
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The United States is among the largest construction market globally. Infrastructure constructions take lots of time and capital to build and design project. In the United States, massive numbers of infrastructure and construction industry are built with government and private companies’ support. Constructions made to provide support to the maximum population. The construction project is booming in the country, changing lifestyle and increasing population will propel the Real Estate market in this country. As per this report, Real Estate Market in the United States will grow with a CAGR of 5.45% from 2020 to2027.
U.S real estate is growing year on year, and numerous infrastructure projects are being introduced every year. Northern Arizona University is planning for large construction projects that include STEM disciplines and the Biological Sciences Building renovation. The Southwest Florida International Airport is planning an enormous US$ 250 Million terminal expansion, and Citizens in the city of Shoreline will see a US$ 64.3 Million roadway reconstruction project launched in 2022 and many more cities. The upcoming year promises to bring a construction project to every region of the United States.
Renub Research latest report “United States Real Estate Market by Segments, Category (Private Construction (Residential & Non- Residential) & Public Construction (Residential & Non- Residential)), Company (Jones Lang Lasalle Incorporated, Cbre Group Inc., Brookfield properties LLC, Berkshire hathaway home services, Cushman & Wakefield Holdings Inc.)” provides a complete analysis of USA Real Estate Industry.
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