The real estate market is the buying and selling of property, including homes, commercial buildings, land, and infrastructure. It’s a complex market that is influenced by economic conditions, interest rates, supply and demand, and government policies. It’s important to understand these trends if you want to invest in real estate.
The size of the global real estate market is huge: there are 7 billion people on the planet, and each one expresses some demand for housing; shopping and work space; warehouses and logistic centers; cultural, recreational and hotel amenities; and more. The real estate market is a vital part of the economy. It creates jobs, supports business activity and provides a foundation for sustainable economic development.
Real estate investment depends on the local real estate market, and it’s crucial to understand how your local market is performing. You can get a lot of information about the market from online resources, but it’s important to verify the data before making any big decisions.
A good place to start is by looking at recent sales in your area. This will give you an idea of what homes are selling for and help you decide whether you should buy or sell. You can also look at demographics to see what’s driving demand in the area.
The real estate market continues to recover from the COVID-19 pandemic, but it still has some challenges ahead. For example, cap rates are still 1% below pre-pandemic levels for most property types.