North America Residential Real Estate Market is Expected to grow at a robust CAGR of 6.17% through 2030F
The
North America Residential Real Estate Market is expected to be led by the
United States, driven by strong demand, urbanization, and favorable financing
conditions, during the forecast period 2026-2030F.
According
to TechSci Research report, “North
America Residential Real Estate Market – By Country, Competition, Forecast
& Opportunities, 2020-2030F, The North America Residential Real Estate
Market was valued at USD 834.90 Billion in 2024 and is expected to reach USD
1195.66 Billion by 2030 with a CAGR of 6.17% during the forecast period.
The
expansion of suburban and exurban areas in response to affordability challenges
and changing lifestyle preferences has become a defining driver of growth in
the North America residential real estate market. As urban centers become
increasingly congested and housing prices escalate beyond the reach of middle-income
families, more individuals are relocating to suburban and exurban areas where
land is more available, prices are relatively lower, and quality of life is
perceived to be higher. This outward migration is enabled by improved
transportation infrastructure, increased availability of telecommuting jobs,
and the desire for larger living spaces and outdoor amenities. The result is a
wave of residential development in communities that were previously considered
peripheral or rural. These developments are often planned with integrated
amenities such as schools, parks, and commercial zones, making them
self-sufficient and attractive to new residents. Local governments are
increasingly investing in infrastructure upgrades to support this suburban
sprawl, including road expansions, broadband internet access, and public
transportation links.
The
environmental appeal of suburban living—with proximity to natural spaces and
lower population density—has been heightened post-pandemic, leading to
persistent demand for new housing construction in these regions. Builders are
responding by initiating large-scale residential projects, particularly in
southern and western regions of the United States, parts of Alberta and British
Columbia in Canada, and northern states of Mexico. These regions are
experiencing population inflows that are directly tied to cost-of-living
considerations and lifestyle upgrades, which are significantly boosting the
volume of home purchases and rental leases. As a result, suburban and exurban
development continues to reshape the geographical landscape of the North
America residential real estate market and contribute to its ongoing expansion.
Sustainability
has emerged as a defining trend in the North America residential real estate
market, with growing consumer preference for energy-efficient and
environmentally conscious housing. Heightened awareness of climate change,
coupled with rising energy costs, has increased demand for properties that
reduce environmental impact and operating expenses. Homebuyers and renters are
actively seeking features such as solar panels, energy-efficient insulation,
smart thermostats, and water-saving plumbing systems. Builders and developers
are responding by incorporating green building materials and technologies into
both new construction and renovation projects, aligning with evolving building
codes and certification standards like Leadership in Energy and Environmental
Design. In addition, several municipalities across the United States and Canada
are introducing incentives for developers and homeowners to adopt sustainable
practices, such as tax credits, expedited permitting, and utility rebates.
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Based
on Business, Rental segment is the fastest-growing business segment in the
North America Residential Real Estate Market, driven by rising property prices,
increasing mortgage rates, and shifting consumer preferences. As housing
affordability becomes a major concern, many individuals and families are
choosing to rent rather than buy homes, particularly in high-demand urban
areas. The demand for rental properties is particularly strong among
millennials, who are entering the housing market later in life due to financial
constraints, and among younger generations seeking flexibility and mobility.
The
growth of build-to-rent developments has contributed significantly to the
expansion of this segment, as developers are increasingly focusing on
purpose-built rental communities to meet the growing demand. The popularity of
short-term rentals, such as those offered through platforms like Airbnb, has
provided a new dimension to the rental market, catering to both investors and
tenants seeking flexible, short-term housing solutions. The rental segment is
expected to continue expanding as rising home prices and mortgage rates make
homeownership less accessible for a large portion of the population, further
driving the demand for rental properties across North America.
Based
on country, Mexico is
rapidly emerging as the fastest-growing country in the North America
Residential Real Estate Market, driven by a combination of strong domestic
demand, foreign investment, and economic stability. The country’s growing
middle class, along with increased urbanization, is fueling the demand for both
affordable and luxury housing, particularly in cities like Mexico City,
Monterrey, and Guadalajara.
The
surge in international interest, especially from U.S. investors looking for
second homes or rental properties, has contributed to the market’s expansion. Mexico’s
proximity to the United States, coupled with its attractive real estate prices
compared to other North American countries, has made it a desirable destination
for both residential and investment properties. Government initiatives and
policies that support homeownership, along with the increasing availability of
mortgage financing, are further propelling the growth of the residential real
estate sector in Mexico, making it a key player in the regional market.
Key
market players in the North America Residential Real Estate market are: -
- Keller
Williams Realty, Inc.
- RE/MAX,
LLC
- Brookfield
Properties LLC
- Lennar
Corporation
- Zillow
Group, Inc.
- Coldwell
Banker Real Estate LLC
- Toll
Brothers, Inc.
- Redfin
Corporation
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“The
North America residential real estate market is expected to experience steady
growth in the future, driven by ongoing urbanization, population growth, and
evolving consumer preferences. As millennials and Gen Z enter the housing
market, demand for both rental properties and affordable homes will increase. Rising
interest in sustainable and smart homes will shape future developments. With
increased investments in technology and innovation, the market will likely see
more efficient construction processes and enhanced property management. Despite
challenges such as affordability issues and rising interest rates, the market
is poised to expand due to strong demand and evolving housing solutions.Top of Form” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based Global management
consulting firm.
“North America Residential Real Estate Market By
Type (Apartments & Condominiums, Landed Houses & Villas), By Business
(Sales, Rental, Lease), By Country, Competition, Forecast and Opportunities,
2020-2030F”, has
evaluated the future growth potential of North America Residential Real Estate
Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in North America Residential
Real Estate Market.
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