Here are a few real estate stats that show the importance of this multi-trillion-dollar business.
Real Estate Market Statistics 2023
Real Estate Demographics Statistics 2023
Real Estate Agent Statistics 2023
Real Estate Income Statistics 2023
Real Estate Trends 2023
In terms of the cheapest location to purchase a property in the US, Mississippi takes the top spot for the cheapest average property price. However, this is not reflected in the average cost of a listing.
How many homes are sold in the US?
In 2020, over 5.6 million homes were sold in the US – the highest number of sales since 2006. 822,000 of those were newly built homes. 2008 had the fewest number, with only 4.1 million sales.
How much do top realtors make?
The average salary for a real estate agent in the US is $71,487 for men and $50,489 for women, however, the top 10% can make above $112,000 per year. The highest-paid real estate agent in the world is based out of Dallas, Texas. In 2019, he made over $1.569 billion selling 3,982 homes.
What percentage do real estate agents make?
Most real estate agents get paid a commission on the home sale price. This can be anywhere from 3% to 6%. However, this is a negotiable sale to sale. Commercial real estate agents can make more (upwards of 10% commission). Although the listing agent may earn a certain percentage, this is usually split between the broker, the buyer’s agent, and the buyer’s broker.
Conclusion
The past few years have been some of the biggest for the real estate industry. Despite tough competition for both buyers and sellings, the property continues to be one of the most lucrative businesses in the world. Sources:
Small Biz Genius Finances Online The Close Fits Small Business National Association of Realtors
About
