real estate market research reports

Economic Research

• Data library

Market Summary: February 2024

• Visualize the data
• Download the data
• 2024 Housing Market Forecast

Latest research

• Featured Posted in Featured Articles on Mar 21, 2024 The Best Time to Sell in 2024: The Week of April 14-20
• Posted in Housing Finance on Mar 28, 2024 Freddie Mac Mortgage Rates Drop to 6.79%
• Posted in Pending Home Sales on Mar 28, 2024 Pending home sales tick up 1.6% in February

See more research

Sign up for updates

Join our mailing list to receive the latest data and research.

Featured Realtor.com ® Reports

Check out our in-depth reports that take a look at current economic and housing market conditions.

View all reports

Build your real estate data set and download

Our Real Estate Data Library is based on the most comprehensive and accurate database of MLS-listed for-sale homes in the industry.

Download data

Please attribute to Realtor.com ® Economic Research when quoting members of our team and/or using our housing data, research, and insights. Please include a link to our data library .

Data dictionary

Home sellers on the fence waiting for that perfect moment shouldn’t wait too long, because the…

The Freddie Mac fixed rate for a 30-year mortgage fell slightly this week, dropping 8 basis…

Pending home sales ticked 1.6% up in February, but remained 7.0% lower year-over-year.

Our research team releases regular weekly housing trends reports, looking at inventory metrics like the number…

The January S&P CoreLogic Case-Shiller Index showed that home prices largely maintained momentum in the beginning…

February 2024 marks the seventh year-over-year rent decline in a row for 0-2 bedroom properties observed…

New home sales remained relatively flat in February 2024 relative to January, falling just 0.3% monthly,…

The Freddie Mac fixed rate for a 30-year mortgage increased 0.13 percentage points to 6.87% this…

Existing home sales rose in February, climbing 9.5% to a pace of 4.38 million, their biggest…

The Federal Reserve’s rate-setting committee voted to hold the short-term policy rate in the 5.25 to…

At the end of 2023, Flow of Funds data from the Federal Reserve showed that the…

For media inquiries, please contact our comms team: [email protected] For questions or guidance on exploring the data: [email protected]

• REALTOR® Store

• Fostering Consumer-Friendly Real Estate Marketplaces Local broker marketplaces ensure equity and transparency.  Close
• Social Media
• Sales Tips & Techniques
• MLS & Online Listings
• Starting Your Career
• Being a Broker
• Being an Agent
• Condominiums
• Smart Growth
• Vacation, Resort, & 2nd Homes
• FHA Programs
• Home Inspections
• Arbitration & Dispute Resolution
• Fair Housing

• All Membership Benefits
• NAR REALTOR Benefits® Bringing you savings and unique offers on products and services just for REALTORS®. Close
• Directories Complete listing of state and local associations, MLSs, members, and more. Close
• Dues Information & Payment
• Become a Member As a member, you are the voice for NAR – it is your association and it exists to help you succeed. Close
• Logos and Trademark Rules Only members of NAR can call themselves a REALTOR®. Learn how to properly use the logo and terms. Close
• Your Membership Account Review your membership preferences and Code of Ethics training status. Close

• Highlights & News Get the latest top line research, news, and popular reports. Close
• Housing Statistics National, regional, and metro-market level housing statistics where data is available. Close
• Research Reports Research on a wide range of topics of interest to real estate practitioners. Close
• Presentation Slides Access recent presentations from NAR economists and researchers. Close
• State & Metro Area Data Affordability, economic, and buyer & seller profile data for areas in which you live and work. Close
• Commercial Research Analysis of commercial market sectors and commercial-focused issues and trends. Close
• Statistical News Release Schedule

• Advocacy Issues & News
• Federal Advocacy From its building located steps away from the U.S. Capitol, NAR advocates for you. Close
• REALTORS® Political Action Committee (RPAC) Promoting the election of pro-REALTOR® candidates across the United States. Close
• State & Local Advocacy Resources to foster and harness the grassroots strength of the REALTOR® Party. Close
• REALTOR® Party A powerful alliance working to protect and promote homeownership and property investment. Close
• Get Involved Now more than ever, it is critical for REALTORS® across America to come together and speak with one voice. Close

• All Education & Professional Development
• All NAR & Affiliate Courses Continuing education and specialty knowledge can help boost your salary and client base. Close
• Code of Ethics Training Fulfill your COE training requirement with free courses for new and existing members. Close
• Continuing Education (CE) Meet the continuing education (CE) requirement in state(s) where you hold a license. Close
• Designations & Certifications Acknowledging experience and expertise in various real estate specialties, awarded by NAR and its affiliates. Close
• Library & Archives Offering research services and thousands of print and digital resources. Close
• Commitment to Excellence (C2EX) Empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism. Close
• NAR Academy at Columbia College Academic opportunities for certificates, associates, bachelor’s, and master’s degrees. Close

• Latest News
• NAR Newsroom Official news releases from NAR. Close
• REALTOR® Magazine Advancing best practices, bringing insight to trends, and providing timely decision-making tools. Close
• Blogs Commentary from NAR experts on technology, staging, placemaking, and real estate trends. Close
• Newsletters Stay informed on the most important real estate business news and business specialty updates. Close
• NAR NXT, The REALTOR® Experience
• REALTORS® Legislative Meetings
• AE Institute
• Leadership Week
• Sustainability Summit

• Mission, Vision, and Diversity & Inclusion
• Code of Ethics
• Leadership & Staff National, state & local leadership, staff directories, leadership opportunities, and more. Close
• Committee & Liaisons
• History Founded as the National Association of Real Estate Exchanges in 1908. Close
• Affiliated Organizations
• Strategic Plan NAR’s operating values, long-term goals, and DEI strategic plan. Close
• Governing Documents Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state & local associations. Close
• Awards & Grants Member recognition and special funding, including the REALTORS® Relief Foundation. Close
• NAR's Consumer Outreach

• Find a Member
• Browse All Directories
• Find an Office
• Find an Association
• NAR Group and Team Directory
• Committees and Directors
• Association Executive
• State & Local Volunteer Leader
• Buyer's Rep
• Senior Market
• Short Sales & Foreclosures
• Infographics
• First-Time Buyer
• Window to the Law
• Next Up: Commercial
• New AE Webinar & Video Series
• Drive With NAR
• Real Estate Today
• Center for REALTOR® Development
• Leading with Diversity
• Good Neighbor
• NAR HR Solutions
• Fostering Consumer-Friendly Real Estate Marketplaces Local broker marketplaces ensure equity and transparency. 
• Marketing Social Media Sales Tips & Techniques MLS & Online Listings View More
• Being a Real Estate Professional Starting Your Career Being a Broker Being an Agent View More
• Residential Real Estate Condominiums Smart Growth Vacation, Resort, & 2nd Homes FHA Programs View More Home Inspections
• Legal Arbitration & Dispute Resolution Fair Housing Copyright View More
• Commercial Real Estate
• Right Tools, Right Now
• NAR REALTOR Benefits® Bringing you savings and unique offers on products and services just for REALTORS®.
• Directories Complete listing of state and local associations, MLSs, members, and more.
• Become a Member As a member, you are the voice for NAR – it is your association and it exists to help you succeed.
• Logos and Trademark Rules Only members of NAR can call themselves a REALTOR®. Learn how to properly use the logo and terms.
• Your Membership Account Review your membership preferences and Code of Ethics training status.
• Highlights & News Get the latest top line research, news, and popular reports.
• Housing Statistics National, regional, and metro-market level housing statistics where data is available.
• Research Reports Research on a wide range of topics of interest to real estate practitioners.
• Presentation Slides Access recent presentations from NAR economists and researchers.
• State & Metro Area Data Affordability, economic, and buyer & seller profile data for areas in which you live and work.
• Commercial Research Analysis of commercial market sectors and commercial-focused issues and trends.
• Federal Advocacy From its building located steps away from the U.S. Capitol, NAR advocates for you.
• REALTORS® Political Action Committee (RPAC) Promoting the election of pro-REALTOR® candidates across the United States.
• State & Local Advocacy Resources to foster and harness the grassroots strength of the REALTOR® Party.
• REALTOR® Party A powerful alliance working to protect and promote homeownership and property investment.
• Get Involved Now more than ever, it is critical for REALTORS® across America to come together and speak with one voice.
• All NAR & Affiliate Courses Continuing education and specialty knowledge can help boost your salary and client base.
• Code of Ethics Training Fulfill your COE training requirement with free courses for new and existing members.
• Continuing Education (CE) Meet the continuing education (CE) requirement in state(s) where you hold a license.
• Designations & Certifications Acknowledging experience and expertise in various real estate specialties, awarded by NAR and its affiliates.
• Library & Archives Offering research services and thousands of print and digital resources.
• Commitment to Excellence (C2EX) Empowers REALTORS® to evaluate, enhance and showcase their highest levels of professionalism.
• NAR Academy at Columbia College Academic opportunities for certificates, associates, bachelor’s, and master’s degrees.
• NAR Newsroom Official news releases from NAR.
• REALTOR® Magazine Advancing best practices, bringing insight to trends, and providing timely decision-making tools.
• Blogs Commentary from NAR experts on technology, staging, placemaking, and real estate trends.
• Newsletters Stay informed on the most important real estate business news and business specialty updates.
• Leadership & Staff National, state & local leadership, staff directories, leadership opportunities, and more.
• History Founded as the National Association of Real Estate Exchanges in 1908.
• Strategic Plan NAR’s operating values, long-term goals, and DEI strategic plan.
• Governing Documents Code of Ethics, NAR's Constitution & Bylaws, and model bylaws for state & local associations.
• Awards & Grants Member recognition and special funding, including the REALTORS® Relief Foundation.
• Top Directories Find a Member Browse All Directories Find an Office Find an Association NAR Group and Team Directory Committees and Directors
• By Role Broker Association Executive New Member Student Appraiser State & Local Volunteer Leader
• By Specialty Commercial Global Buyer's Rep Senior Market Short Sales & Foreclosures Land Green
• Multimedia Infographics Videos Quizzes
• Video Series First-Time Buyer Level Up Window to the Law Next Up: Commercial New AE Webinar & Video Series
• Podcasts Drive With NAR Real Estate Today Center for REALTOR® Development
• Programs Fair Housing Safety Leading with Diversity Good Neighbor NAR HR Solutions
• Research Reports
• Housing Statistics
• Commercial Research
• State & Metro Area Data
• Presentation Slides

The National Association of REALTORS® does research on a wide range of topics of interest to real estate practitioners, including market data, commercial, international, home buying and selling, NAR member information, and technology. Use the data they contain to improve your business through knowledge of the latest trends and statistics.

• NAR survey methodology
• Survey responses explained
• Citation guidelines for NAR research and statistics
• Quick real estate statistics

Research Update

See this month's summary of the data, reports, blog posts, and instant reactions produced by NAR's research team.

Reports by Category | Alphabetically

Appraisal Process Report

NAR surveyed its members pertaining to data collectors in the appraisal process. This report contains the findings.

Appraisal Survey

This report focuses on the impact of appraisals on the current market and member business in terms of cost, turn-around times, and other challenges and to measure member experiences with bias and discrimination in the appraisal process.

Commercial Real Estate Market Research

Most Popular

Commercial Lending Survey

The annual Commercial Lending Survey provides insights into REALTORS®' commercial financing conditions. The report details liquidity conditions, market impact, funding sources, and respondents' comments.

Analysis and Case Studies on Office-to-Housing Conversions

NAR analyzed how vacant office buildings are being converted into housing, examining conversions in 27 markets with the largest decline in occupancy since the pandemic and looking at market conditions and factors that led to the success of eight office-to-housing conversions in Maryland, Washington DC, New York, California, and Illinois.

Career Choices in Real Estate: Through the Lens of Gender, Race, and Sexual Orientation

This survey looks at how and why members of the National Association of REALTORS® chose real estate as a career. The report also examines how each gender, race, ethnicity, and sexual orientation is doing once active in real estate. It includes data on both residential and commercial specialists.

Case Studies in Repurposing Vacant Hotels/Motels into Multifamily Housing

The five case studies presented in this report demonstrate that hotels and motels can be repurposed as multifamily housing and without Low Income Housing Tax Credit (LIHTC).

Case Studies in Repurposing Vacant Retail Malls

The case studies in this report showcase how vacant retail malls are being repurposed and the sources of financing for these projects.

Commercial Real Estate Market Insights

The Commercial Real Estate Market Insights reports provide in-depth analysis and market insights on the commercial real estate market, with a focus on multi-family, office, industrial, and retail properties.

Commercial Real Estate International Business Trends

This annual report focuses on this significant segment of the economy and real estate markets.

Commercial Real Estate Metro Market Reports

The reports include economic, demographic, and commercial market data that provide REALTORS® with information on the factors driving commercial real estate transactions in 52 markets.

Commercial Real Estate Market Trends and Outlook

This quarterly report combines and replaces the Commercial Real Estate Market Survey and the Commercial Real Estate Outlook. If focuses on commercial transactions of REALTORS® and affiliate members, and opportunities and challenges facing commercial practitioners.

Expectations and Market Realities in Real Estate

This annual report focuses on economic outlook, capital markets, highlights and expectations for the five major commercial property sector markets, and a collective analysis of the commercial investment environment.

Leasing Conditions in a Pandemic Environment

This survey covers information on the impact of the pandemic on renters and landlords alike on key indicators such as rent payment received, rent payment options for renters, leasing volume, vacancy, rents, common area maintenance fees, lease term, and changes in the workplace.

Like-Kind Exchange Survey

This report provides the REALTOR® perspective on 1031 like-kind exchanges, which allow for the deferral of tax owed on any gain from the sale of a real estate property as long as the proceeds are reinvested in a similar property.

Like-Kind Exchange Transactions of REALTORS® in 2016-2019

This report looks at the use of Section 1031 like-kind exchanges involving NAR members and assesses their views on the economic impacts of repealing Section 1031 as is being proposed by some current tax proposals.

Local Market Assessments

Globalization affects the U.S. real estate industry with impacts far beyond large transactions in major markets. Foreign investment occurs in both the commercial and residential sectors in every state and in markets of all sizes.

Marijuana and Real Estate: A Budding Issue

As marijuana intersects with real estate, the demand for both residential and commercial properties is a growing market. NAR surveyed its membership regarding their interaction with marijuana and the real estate sector in states where marijuana is legal.

Member Safety: Commercial NAR surveyed members about their feelings of safety in commercial real estate, their experiences, and precautions they take to protect themselves.

NAR Flash Survey: Economic Pulse

This report looks at the effects on leasing, purchasing, and building practices such as offering more hand-sanitizer or requiring more frequent cleaning.

REALTORS® and Sustainability: Commercial

REALTORS® were surveyed about the building features that were most important to their commercial clients.

Home Buyers and Sellers

Profile of Home Buyers and Sellers

This annual report provides information on demographics, housing characteristics and the experience of consumers in the housing market. Buyers and sellers also share information on the role that real estate professionals play in home sales transactions.

Animal House: Pets in the Home Buying and Selling Process

This report analyzes REALTOR® recommendations and actions taken by home buyers and sellers to best accommodate their pets and present their homes in the best light.

This report contains information from the Profile of Home Buyers and Sellers about specific buyer and seller types.

Consumer Financial Literacy

The research contained in this report shows an opportunity to help narrow the racial gap in homeownership and bring more first-time home buyers into the housing market.

Home Buyer and Seller Generational Trends

This annual report examines the generational differences of home buyers and sellers in the current real estate marketplace.

Housing Wealth Gains for the Rising Middle-Class Markets

Homeownership is the primary source of wealth creation. This study looks at the distribution of housing wealth between 2010 and 2020 across income groups and in 917 metropolitan or micropolitan areas.

Meeting the Needs of Buyers and Sellers During and After the Pandemic

Real estate agents provide high value, and during a pandemic need to meet high expectations.

Migration Trends

Millions of people moved during the pandemic, driven by the opportunity to work remotely, the desire for more space, and better affordability. Where do people move a year into the pandemic? Are suburbs and small cities gaining even more movers?

Mind the Gap: U.S. Home Purchase Price Among Hispanics/Latinos or Blacks/African-Americans and Those With Student Debt

This paper looks at the price differences among homes and how the purchase price can lead to further wealth gaps through equity in homeownership.

Most Popular Areas for Millennials

NAR analyzed employment gains, population trends, income levels and housing conditions in the largest 100 metropolitan statistical areas across the country to identify the best purchase markets for millennial homebuyers. This report focuses on the top 10.

Moving With Kids

The information in this report comes from NAR's Profile of Home Buyers and Sellers, and highlights the characteristics of families with children who are buying or selling a home.

NAR conducted a flash survey of members on the impact of the coronavirus on their market, including mortgage rates, buyer interest, and seller behavior.

Obstacles to Home Buying

Both potential and successful home buyers across races and ethnicities tested say they faced or are facing obstacles like a lack of affordable homes, a lack of homes that fit their criteria, competing with multiple offers, and saving for a down payment.

Profile of Home Buyers and Sellers in Subregions

This report contains information from the Profile of Home Buyers and Sellers about buyers in subregions of the United States.

Profile of LGBTQ Home Buyers and Sellers

This report examines the distinct differences found between LGBTQ, and heterosexual home buyers and sellers.

Snapshot of Race and Home Buyers in America

This report looks into the characteristics of who purchases homes, why they purchase, what they purchase, and the financial background for buyers based on race.

Top 10 Most Favorable Areas for Millennials During the Pandemic

These markets were chosen for affordability, inventory availability, strong presence of millennial residents, a lower share of the industries most affected by the lockdown, and fewer job losses during the pandemic than the average.

Vacation Home Counties

This report breaks down the share of home sales by primary residences, vacation homes, or investment properties, and presents several characteristics of the non-primary residence transaction.

Veterans and Active Military Home Buyers and Sellers Profile

This survey examines the differences and similarities between veteran and active military home buyers and sellers and those who have never served in the military.

Wealth Gains by Income and Racial/Ethnic Group

This report looks at how homeownership can be a catalyst for building wealth for households in low-/middle- income and minority groups.

Homeownership/Home Features

Remodeling Impact Report

This report takes a deep dive into the reasons for remodeling, the success of taking on projects, and the increased happiness found in the home once a project is completed.

Remodeling Impact: D.I.Y.

This report takes a deep dive into the differences between remodeling when hiring a professional compared to individuals who “do it yourself” (D.I.Y. ).

Remodeling Impact Report: Outdoor Features

This report looks at the reasons homeowners complete outdoor remodeling projects, the value of taking on such projects, and the increased happiness experienced by homeowners once a project is completed.

Home Price Gains by Years of Tenure

This study analyzes whether homeowners are more likely to experience a home price gain or loss during the period when they hold a home.

Profile of Home Staging

This report gives the results of a survey of REALTORS® on the effectiveness of home staging.

Social Benefits of Homeownership and Stable Housing

This report looks at how homeownership leads to positive social outcomes. It examines not only the ownership of homes, but also the impact of stable housing.

International Real Estate

International Transactions in U.S. Residential Real Estate  

This annual report reveals the top five countries of origin for foreign home buyers and how these buyers are utilizing the services of REALTORS®.

The Commercial Real Estate International Business Trends report focuses on this significant segment of the economy and real estate markets.

Global Alliances International Residential Real Estate Business Survey

Survey respondents were asked about the characteristics of five closed transactions with international clients. An international client is defined as one who is not a citizen of the country of the respondent.

Inbound Referral Business of International REALTOR® Members

This study looks at the referrals International Realtor® Members (IRMs) receive from their contacts abroad and the challenges and opportunities regarding the international referral business.

Mainstreet Organization of REALTORS® International Residential Transactions

Following the step-by-step processes discussed in these state-level case studies can help you learn to identify and cultivate global business, which is a growing real estate specialty in the U.S.

Profile of International Residential Real Estate Activity in Florida

Florida is the state which produces the largest share of U.S. residential home sales to international clients, accounting for 23 percent of total sales. NAR estimates these sales at $68.2 Billion to resident and non-resident foreigners. This is an annual report.

Profile of International Residential Transactions of the Raleigh Regional Association of REALTORS®

This annual report highlights the results of a survey of international residential transactions experiences of members of the Raleigh Regional Association of REALTORS®.

State-by-State International Business Reports

These annual reports look at international business activity by state, including the number of foreigners arriving from various countries, homeownership rates, and top exports.

Land Markets

REALTORS® Land Institute—NAR Land Market Survey

This annual report is conducted jointly by the REALTORS® Land Institute and NAR. Its focus is to present accurate information on current trends in the land markets and on the general state of land sales.

Mortgage and Home Financing

The Impact of Student Loan Debt

Student loan debt is one of the biggest hurdles holding potential buyers back from being able to save for a downpayment on a home or to qualify for a mortgage due to the loan holder's debt-to-income ratio.

Downpayment Expectations and Hurdles to Homeownership

This report looks at downpayment expectations from U.S. home buyer households, consumers, and REALTORS®. It examines downpayment amounts, assistance, sources of downpayment, factors holding back savings for a downpayment, and related topics.

Loan Type Survey

The Loan Type Survey looks at multiple aspects of financing, including the types of loans and loan products members' clients are using, how they affect home buyers' offers, and what loan products are least attractive to home sellers.

Mortgage Originators Survey

These quarterly surveys ask a sample of mortgage lenders about the QM rule’s impact on their business and how the rule could in turn impact consumers.

NAR Member Information

Member Profile

Based on a random sampling of NAR’s membership, the annual Member Profile strives to answer the question: Who are REALTORS®? It looks at a variety of economic and demographic characteristics, and business practices.

2023 Association Profile

With varying sizes, resources, and local markets, this report looks at how REALTOR® associations operate and compare to each other:

Adopt to Adapt

The COVID-19 pandemic kicked adaptations into overdrive. This report provides insight into changes that were made during the pandemic across the real estate industry that are here to stay.

CARE Report: Community Aid and Real Estate

This report provides insight on the monetary and volunteer contributions that general members at-large, broker-owners, and Association Executives (AEs) or Multiple Listing Service (MLS) Staff give to society.

Health Insurance Survey

This survey focuses on NAR members' health insurance: Do they have insurance? If not, why not? If so, what does it cover? What are the premiums and deductibles and terms of the policies? Are members interested in an NAR-sponsored health insurance plan?

Member Safety: Residential NAR surveyed members about their feelings of safety in residential real estate, their experiences, and precautions they take to protect themselves.

Profile of Real Estate Firms

This annual report focuses on firm executives who are members of NAR. The report provides insight into the business characteristics, business activity, franchised firms, benefits and education at firms, and the future outlook of firms.

Teams Survey

This survey focuses on NAR members' involvement in real estate teams.

Real Estate Market Data

REALTORS® Confidence Index

The monthly REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. In addition, the "Questions of the Month," feature results of a timely aspect of the housing market.

The Double Trouble of the Housing Market

Since 2019, home prices rose nearly 30%, while inventory of homes for sale dropped significantly, reaching record lows in 2021 and creating "double trouble" for the residential market.

Flood Insurance Reports by State

Based on flood data from FEMA, CoreLogic, and the First Street Foundation, NAR has created reports underscoring the importance of flood insurance to property owners across the U.S.

Foot Traffic

Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.

Hidden Gems in the Housing Market

NAR identified top 10 markets with prices that were still undervalued relative to their underlying market fundamentals in 2021. These "hidden gem" markets are expected to experience stronger price appreciation relative to other markets in 2022.

Housing Affordability and Food Sufficiency

The housing affordability crisis is an issue that has widespread budgetary implications for families. Using publicly available data, a strong connection is made between housing affordability and food insecurity in this report.

Housing Affordability & Supply

This unique analysis identifies the number of homes missing from a balanced housing market at each income level, and can help federal and local governments tackle issues of low affordability and low supply of homes.

The Impact of Institutional Buyers on Home Sales and Single-Family Rentals

This study estimates the market share of institutional buyers, looks at factors attracting them to a particular market, and analyzes the motivation of home sellers to sell to institutional buyers and the impact of these investors on home prices, rents, and quality of landlord service.

Local Market Reports

Every quarter, NAR Research compiles and publishes local information on markets, state taxes and fiscal conditions, wealth gain by metro area, subprime ARM performance, mortgage conditions, the economic impact of real estate, and existing home sales and prices.

Markets With the Most Pent-up Housing Demand

NAR considered indicators that influence a metro area's market in identifying markets which will experience stronger activity in 2024.

Market Recovery Survey

The coronavirus has affected markets across the nation, but members are in the process of regaining their footing. This report provides a snapshot of the recovery process for both residential and commercial markets.

Metro Area Housing Wealth Gains

Homeownership is the largest source of wealth among households, and contributes positively to the homeowner’s and children’s economic condition because the home equity can be tapped for other expenditures. These calculations, by metropolitan statistical area, are illustrative of the magnitude of the wealth gains over time.

The Real Estate Mantra: Locate Near Public Transportation

This study compares residential and commercial property sales near fixed-guideway stations with those in areas without public transit access.

REALTORS® and Sustainability: Residential

Almost half of agents and brokers found that consumers were interested in sustainability, and nearly one-third of Realtors® were concerned about the effects of climate change events on the real estate market.

Each month, the Research Update report provides a summary of the data, reports, blog posts, and instant reactions produced by NAR's research team.

State-by-State Economic Impact of Real Estate Activity

How is the housing market in your state affecting the local economy? These annual reports outline the total economic impact of real estate related industries on the state economy, as well as the expenditures that result from a single home sale, including aspects like home construction costs, real estate brokerage, mortgage lending and title insurance. Find out how much the real estate industry is affecting the gross state product for your area.

Work From Home Counties

NAR developed a Work from Home Score that reflects the current fraction of workers already working from home and factors that support remote work.

Real Estate Technology

NAR Web Site Traffic Statistics  (Login required)

Find out who visits NAR's Web sites, realtor.com® and nar.realtor, and how often. Learn what's important to fellow REALTORS® and the general public plus know realtor.com®'s position in the real estate vertical marketplace.

Real Estate in a Digital Age

Like the rest of the world, real estate has gone digital. Learn how buyers search for homes, and how REALTORS® use technology to get ahead.

REALTOR® Technology Survey

This survey provides an overview on REALTORS®' current tech usage and attitudes about the future of real estate technology.

See all reports produced by NAR .

Popular Research Reports

Highlights: profile of home buyers and sellers, remodeling impact, international transactions in u.s. residential, highlights from the nar member profile, realtors® land market survey.

Real Estate Insights

A new way to decarbonize buildings can lower emissions—profitably

Generative AI can change real estate, but the industry must change to reap the benefits

Empty spaces and hybrid places: The pandemic’s lasting impact on real estate

In the near term, commercial real estate may not hedge inflation

Six new imperatives for real estate players

Want to learn more about how we help clients in real estate, more insights.

Corporate real estate: From bricks and mortar to people and places

Connect with our real estate practice.

Intelligent Investment

U.S. Real Estate Market Outlook 2022

Despite uncertainty from the omicron variant and other risks, a growing economy will fuel demand for space and increase real estate investment across all property types.

December 8, 2021 46 Minute Read

• Chapter 1 Economy & Policy
• Chapter 2 Capital Markets
• Chapter 3 Office/Occupier
• Chapter 4 Retail
• Chapter 5 Industrial & Logistics
• Chapter 6 Multifamily
• Chapter 7 Hotels
• Chapter 8 Data Centers

Looking for a PDF of this content?

2022 u.s. real estate market outlook event recording.

Realizing Potential in Tomorrow's Economy

U.S. commercial real estate is set for an active 2022 amid robust economic growth and higher demand from both occupiers and investors across all property types. We anticipate a record year of investment activity, with intense investor competition, powered by abundant capital and liquid debt markets, driving up values—even as interest rates rise as monetary policy tightens.

We foresee a record year for commercial real estate investment, enabled by high levels of low-cost debt availability and new players drawn to real estate debt’s attractive risk-adjusted returns. Commercial real estate values will rise, particularly for sought-after industrial and multifamily assets. Investors will sharpen their focus on emerging opportunities in the office and retail sectors in search of better returns.

The supply/demand balance in the office sector will remain highly favorable for occupiers, but the pace of recovery will pick up following a sluggish 2021. With hybrid work the new normal, office properties with amenities that enhance employee collaboration, connection and wellness will fare best.

Retail, by contrast, is seeing the effects of a longer-term transition, which has included pricing adjustments, low levels of new construction and beneficial investment in the best experiential and convenience-led centers. Sales-to-square footage ratios are surging and the demographic- and pandemic-induced shift to the suburbs will favor grocery-anchored and neighborhood centers. With strong forward returns now achievable, we anticipate a decade-high level of retail investment volume in 2022.

Industrial & logistics hardly broke step during the pandemic as e-commerce surged. 2022 will see slower demand for physical goods as the service sector reopens and attracts more consumer spending. This will give supply a chance to catch up with demand. Third-party logistics operators are beginning to dominate the sector and are looking to get ever closer to the end consumer.

Multifamily will continue its recovery in 2022, with downtown locations returning to pre-pandemic occupancy levels. Single-family rentals in the suburbs will also fare well as some millennials leave the city to raise families.

A notable trend in the second half of 2022 will be the return of downtowns. As business and tourist travel picks up, we will see a sharp revival in the hotel sector in gateway cities, alongside the already recovering food & beverage sector. This, in turn, will stimulate the return to the office and the fuller recovery of downtown life.

The outlook for real estate in 2022 is positive, with big cities potentially surprising on the upside. Amid this recovery, ESG, demographics, digitization and decarbonization will take on a new importance.

We have produced this report to help you navigate the macro environment we expect in 2022 and look forward to working with you in the new year.

The outlook for real estate in 2022 is positive, with big cities potentially surprising on the upside.

Continue to Chapter 1: The Economy

Research Leadership

Richard barkham, ph.d..

Director, Executive Managing

• Phone +1 617 9125215

Julie Whelan

Global Head of Occupier Thought Leadership

• Phone +1 508 789 7085

Henry Chin, Ph.D.

Global Head of Investor Thought Leadership & Head of Research, Asia Pacific

• Phone +852 2820 8160

James Breeze

Vice President, Global Head of Industrial & Logistics Research

• Phone +1 602 735 1939

Ian Anderson

Senior Director of Research and Analysis

• Phone +1 215 561 8997

Matthew Vance

Sr Research Director

• Phone +1 312 780 1252
• Mobile +1 970 652 4050

Darin Mellott

Vice President, Head of U.S. Capital Markets Research

• Phone +1 801 869 8014

Rachael Rothman

Head of Hotels Research & Data Analytics

• Phone +1 804 201 2004

Brandon Isner

Americas Head of Retail Research

• Phone +1 305 381 6407

Matt Walaszek

Director of Research

• Phone +1 312 297 7686

Taylor Jacoby

Director of Strategic Investment Consulting

• Phone +1 202 585 5547

Related Insights

Related services, capital markets.

Gain proactive insights and strategies that unlock value, drive returns and enhance outcomes for your real estat...

Use the world’s most comprehensive real estate services platform to find innovative solutions for your needs as a corporate occupier or office investor.

Retail Services

With integrated solutions, unique insight, and unmatched experience, we deliver successful outcomes for retailers, restaurateurs, investors, owners, a...

Industrial & Logistics

We represent the largest industrial real estate platform in the world, offering an integrated suite of services for occupiers and investors.

Multifamily

Unlock the potential of your residential real estate with expert investment, financing, valuation, due diligence, design, management and leasing strat...

CBRE Hotels delivers bottom-line impact to hotel clients globally by providing advisory, capital markets, investment sales, research & valuation s...

Data Center Solutions

Optimize your data center real estate with worldwide consulting, advisory and transaction, project management an...