For Sale: Declines Within the Residential Market Are Expected to Drive the Contraction of Industry Revenue
Real estate appraisers provide valuation services, such as residential property appraisals, commercial property appraisals and real estate portfolio valuations, to those active in real estate markets. The industry primarily depends on the residential and nonresidential markets, contributing to more than 75.0% of revenue. Nonresidential real estate activity was affected by social distancing requirements as work-from-home trends grew and office attendance fell. Conversely, the early stages of the COVID-19 pandemic positively affected the residential market, as consumers had higher disposable income and interest rates were back to historically low levels. These trends have led to the industry expanding at a CAGR of 4.2% to an estimated $12.1 billion over the past five years, including a projected 5.1% decrease in 2023.
Operators in this industry specialize in estimating the fair market value of real estate. Appraisers research a property or development to determine the characteristics pertinent to its market value. Valuations for a property are carried out when it is sold, mortgaged, taxed, insured or developed.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Cbre Group Inc.
- Bgc Partners Inc.
Methodology
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