Real Estate Market Size

Goals

To gain a robust understanding of the US residential real estate market.

Early Findings

  • Total mortgage debt in the US is $10.4 trillion from a total equity of $26.1 trillion. This means homeowners have around $15.7 trillion in equity. These figures are from Q1 2019, the latest available from the Federal Reserve.
  • In percentage terms, this means Americans have 60.2% equity and 39.8% debt as a whole.
  • The US Census Bureau does offer a table on new home sales by value. This is only newly constructed homes, however, not all residential sales.
  • New home sales in 2018 break down as such: 18,000 under $150,000; 54,000 between $150-199,999; 187,000 between $200-299,999; 153,000 between $300-399,999; 90,000 between $400-499,999; 78,000 between $500-749,999; and 36,000 valued at $750,000 and above.
  • The percent distribution of the above is: 3% under $150,000; 9% between $150-199,999; 30% between $200-299,999; 25% between $300-399,999; 15% between $400-499,999; 13% between $500-749,999; and 6% valued at $750,000 and above.
  • The National Association of Realtors states that 5.34 million sales were completed last year of existing homes.
  • They also do not offer a breakdown of home sales by price in any of their published statistics.
  • The US Census Bureau does not collect data on number of existing house sales by value. They only offer the average sales price each quarter.

Summary Of Our Early Findings Relevant To The Goals

  • Our initial hour of research found the total size and breakdown of the US residential real estate industry as of Q1 2019.
  • We did not have time to finish finding or triangulating the total number of existing homes sold in 2018, broken out by value. It is possible this information does not exist in this form, but more work is needed to see if it can be either found or triangulated.
  • We also did not have time to start building a list of current players in the real estate technology industry.
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Proposed next steps:

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