North America Residential Real Estate Market By Type (Apartments & Condominiums, Landed Houses & Villas), By Business (Sales, Rental, Lease), By Country, By Competition, Forecast and Opportunities, 2020-2030F

The North America Residential Real Estate Market was valued at USD 834.90 billion in 2024 and is projected to reach USD 1195.66 billion by 2030, growing at a CAGR of 6.17% during the forecast period. This market encompasses the buying, selling, and development of housing properties intended for personal occupancy, including single-family homes, townhouses, condominiums, and multi-family buildings.

Market growth is supported by population expansion across the United States, Canada, and Mexico, particularly in urban and suburban centers experiencing job growth and infrastructure development. The shift toward remote and hybrid work models has also contributed to rising demand in suburban and exurban areas, encouraging housing activity in less dense locations. Furthermore, favorable mortgage rates in recent years have bolstered accessibility to homeownership. As demographic shifts and evolving lifestyle preferences reshape housing demand, the North America residential real estate sector continues to diversify and expand across regions.

Key Market Drivers

Urban Population Growth and Demographic Shifts

The steady increase in urban populations across major North American cities is a critical factor propelling the residential real estate market. Migration to urban centers is driven by access to employment, education, and healthcare, generating sustained demand for various types of residential units. Cities such as New York, Los Angeles, Toronto, and Vancouver, as well as secondary hubs like Austin and Calgary, are seeing robust housing development to accommodate rising urban populations.

Demographic dynamics also influence market growth. Millennials and Gen Z are entering their prime housing years, seeking homes near transit, technology infrastructure, and urban amenities. Concurrently, Baby Boomers are downsizing or relocating to walkable city neighborhoods with healthcare access. These population shifts are prompting real estate developers to focus on diverse housing formats, including multifamily buildings and mixed-use developments that align with evolving household preferences.

Key Market Challenges

Housing Affordability Crisis and Income Disparity

Affordability remains a pressing challenge in the North America residential real estate market. In cities such as Vancouver, San Francisco, and Toronto, the cost of residential properties has significantly outpaced wage growth, creating barriers for first-time buyers and moderate-income households. Limited inventory, rising land and construction costs, and increased investor activity have all contributed to price inflation.

This growing gap between home prices and incomes is pushing potential homeowners and renters out of urban centers, increasing demand in suburban markets but also contributing to displacement and inequality. Inadequate affordable housing supply and restrictive zoning laws further exacerbate the crisis. While policy efforts such as subsidies and inclusionary zoning exist, structural reforms and investment in workforce housing remain essential to improve accessibility and long-term market sustainability.

Key Market Trends

Rise of Remote Work Influencing Suburban and Rural Housing Demand

The adoption of remote work has significantly altered housing demand across North America. With many employees no longer tied to physical offices, there is increased interest in suburban and rural properties that offer more space, lower costs, and a better quality of life. Second-tier cities and peripheral areas are seeing increased residential activity as households prioritize home offices, outdoor space, and access to nature.

This trend is reshaping residential development, with new homes featuring flexible layouts, high-speed connectivity, and amenities suited to remote work lifestyles. It is also stimulating infrastructure investment in growing communities and prompting zoning adjustments to accommodate higher residential density. As hybrid work continues, this decentralized demand pattern is expected to drive sustained growth in suburban and rural housing markets across the region.

Key Market Players

• 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

Report Scope:

In this report, the North America Residential Real Estate Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

North America Residential Real Estate Market, By Type:

• Apartments & Condominiums
• Landed Houses & Villas

North America Residential Real Estate Market, By Business:

• Sales
• Rental
• Lease

North America Residential Real Estate Market, By Country:

• United States
• Canada
• Mexico

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the North America Residential Real Estate Market.

Available Customizations:

North America Residential Real Estate Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).