When it comes to the real estate industry, statistics can give us valuable insight into the current business landscape. Here are some numbers to help you grow your real estate company and improve your marketing strategy in this ever-changing field. → Number of real estate transactions per year In 2021, the U.S. real estate market reached 6.1 million closed transactions, the highest number of sales since 2006—a jump from 5.6 million in 2020. There was a slight decline in activity in 2022, and transaction volume is expected to drop further to 5.1 million sales in 2023. This trend is driven by record-high mortgage rate increases due to high inflation. → Increase in online searches for properties As studies reveal, 89% of homebuyers who collaborated with an agent also searched online. Therefore, it's essential for your brand to have a strong online presence, which can be achieved by an effective marketing strategy and robust real estate software tools. According to the National Association of Realtors, searches for real estate on Google have risen by 253% over the past four years. So, it's crucial to optimize your website with the right keywords and relevant content to attract potential buyers. → Number of real estate agents and brokers in the market Last year, the National Association of Realtors reported that the United States had a record number of real estate agents. Over 156,000 people joined their ranks in 2020 and 2021 combined—almost 60% more than during the previous two years. And this year, many more are expected to join. Google search trends indicate that “how to become a real estate agent” was the top job-related search for the last two years through 2023. So, it's safe to say that the property industry is booming, and this trend will continue. → Demand for immediate response 90% of customers rate prompt responses as essential or highly significant. More than half of them, 60%, define “prompt” as a reply within 10 minutes or less. Clearly, property buyers expect quick solutions, which puts tremendous pressure on customer service teams to provide immediate real estate communication and handle their requests efficiently.