People in the Commercial Real Estate workforce in the US in 2021
About the US Real Estate Sector
The real estate sector is one which comprises the different elements of property such as development, appraisal, marketing, selling, leasing, and management of commercial, industrial, residential, and agricultural properties. Although the industry can fluctuate depending on the state of national and local economies, it nonetheless always remains consistent due to the constant demand for homes and office spaces, with projections that the demand for the latter will increase post-pandemic.
The real estate industry is an integral component of the economy and although the industry encountered challenges in the mid 2000s, with the real estate market peaking and then falling in line with the recession, it has still nevertheless been strengthened in the years since and continues to grow. In 2018, the US commercial real estate development and operation industry contributed $1 trillion to the nation’s economic output, which accounts for over 6%.