Real Estate Sales & Brokerage in New York
The Real Estate Sales and Brokerage industry in New York is primarily driven by macroeconomic trends in the residential and commercial real estate sector. Over the past five years, both residential and nonresidential markets have strengthened steadily. As consumers see an increase in their incomes, they are more likely to demand more commercial goods and services, further driving demand for space. During the period, housing starts and home prices have both risen and with it so has revenue from residential segments, because agents are typically paid on a commission basis and receive their fee only when they close a deal. Over the five years to 2022, housing starts are expected to continue to grow, albeit at a slower rate. Home prices will also rise providing growth opportunities for residential services.
This industry comprises brokers and agents that sell, buy or rent real estate for others. Industry operators do not own these properties but act as intermediaries between owners or sellers and buyers or tenants.
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 key players and their market shares.
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