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U.S. Real Estate Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies111
  • 7D1.0%
  • 3M-20.2%
  • 1Y-7.5%
  • YTD-18.1%

Over the last 7 days, the Real Estate industry has risen 1.0%, driven by gains from CBRE Group of 3.7%. In contrast, the industry has lost 7.5% in the last 12 months. Looking forward, earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

Has the U.S. Real Estate Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$141.9bUS$127.1bUS$1.2b21.4x114.8x1.1x
Tue, 03 Mar 2026US$153.5bUS$127.9bUS$1.3b34.2x119x1.2x
Thu, 29 Jan 2026US$181.3bUS$125.7bUS$2.3b29.7x80.4x1.4x
Sat, 27 Dec 2025US$176.4bUS$131.4bUS$2.1b30.8x83.9x1.3x
Mon, 24 Nov 2025US$174.4bUS$131.2bUS$2.1b29.5x83.3x1.3x
Wed, 22 Oct 2025US$178.7bUS$128.0bUS$1.9b25.3x94.3x1.4x
Fri, 19 Sep 2025US$195.7bUS$128.0bUS$1.8b26.9x107x1.5x
Sun, 17 Aug 2025US$182.0bUS$127.5bUS$1.9b27.9x96.1x1.4x
Tue, 15 Jul 2025US$167.9bUS$124.3bUS$1.7b31.3x101.6x1.4x
Thu, 12 Jun 2025US$162.2bUS$124.6bUS$1.5b27.6x108.7x1.3x
Sat, 10 May 2025US$164.0bUS$123.8bUS$1.3b27.2x126.9x1.3x
Mon, 07 Apr 2025US$157.3bUS$121.8bUS$1.1b20.9x146.6x1.3x
Wed, 05 Mar 2025US$179.1bUS$120.1bUS$1.0b26.9x174.8x1.5x
Fri, 31 Jan 2025US$176.1bUS$116.0b-US$42,975,109.5928x-4096.6x1.5x
Sun, 29 Dec 2024US$167.8bUS$116.0bUS$4.5m27.4x37013.9x1.4x
Tue, 26 Nov 2024US$173.7bUS$116.1bUS$2.8m33.3x61286.9x1.5x
Thu, 24 Oct 2024US$165.5bUS$112.7b-US$1,130,250,058.4937.9x-146.4x1.5x
Sat, 21 Sep 2024US$165.6bUS$113.9b-US$557,479,557.3529.5x-297.1x1.5x
Mon, 19 Aug 2024US$145.5bUS$112.9b-US$520,530,470.1130.8x-279.6x1.3x
Wed, 17 Jul 2024US$139.8bUS$110.6bUS$571.2m28.4x244.8x1.3x
Fri, 14 Jun 2024US$136.1bUS$110.6bUS$580.5m27x234.4x1.2x
Sun, 12 May 2024US$139.6bUS$112.4bUS$574.6m27.5x242.9x1.2x
Tue, 09 Apr 2024US$141.1bUS$113.4bUS$235.0m29.4x600.3x1.2x
Thu, 07 Mar 2024US$133.9bUS$112.9bUS$524.3m17.8x255.4x1.2x
Sat, 03 Feb 2024US$133.8bUS$115.4b-US$617,913,272.0022.2x-216.6x1.2x
Mon, 01 Jan 2024US$143.3bUS$115.3b-US$636,319,441.0025.4x-225.2x1.2x
Wed, 29 Nov 2023US$125.2bUS$115.1b-US$812,885,759.0025.2x-154x1.1x
Fri, 27 Oct 2023US$109.8bUS$119.2b-US$253,669,998.0024.2x-433x0.9x
Sun, 24 Sep 2023US$123.3bUS$119.3b-US$357,808,573.0029x-344.5x1x
Tue, 22 Aug 2023US$127.1bUS$117.2b-US$629,166,435.0031.2x-202x1.1x
Thu, 20 Jul 2023US$138.7bUS$122.2b-US$130,494,709.0027.4x-1062.6x1.1x
Sat, 17 Jun 2023US$93.5bUS$120.0b-US$433,059,605.0023.7x-215.9x0.8x
Mon, 15 May 2023US$87.2bUS$120.6b-US$1,318,668,303.0016.2x-66.1x0.7x
Wed, 12 Apr 2023US$88.9bUS$125.3b-US$321,164,263.0013.1x-276.9x0.7x
Price to Earnings Ratio

-276.9x


Total Market Cap: US$88.9bTotal Earnings: -US$321,164,263.00Total Revenue: US$125.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Industry Price to Earnings3Y Average 995.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 115x which is lower than its 3-year average PE of 995x.
  • The 3-year average PS ratio of 1.2x is higher than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • Total earnings for the Real Estate industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the U.S. Real Estate industry?

US Market3.46%
Real Estate2.85%
Real Estate1.02%
Diversified Real Estate4.54%
Real Estate Services1.53%
Real Estate Development0.47%
Real Estate Operating Companies-5.15%
Industry PE
  • Investors are most optimistic about the Real Estate Services industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 26.8%, which is higher than its past year's earnings decline of 26.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Operating Companies industry, expecting annual earnings growth of 48% over the next 5 years.
  • This is better than its past earnings decline of 6.4% per year.
  • In contrast, the Diversified Real Estate industry is expected to see its earnings decline by 3.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CBRE CBRE GroupUS$136.603.7%
+US$1.4b		15.7%PE34.3x
JLL Jones Lang LaSalleUS$306.054.5%
+US$614.7m		39.4%PE18.1x
JOE St. JoeUS$65.156.1%
+US$214.5m		45.0%PE32.4x
CWK Cushman & WakefieldUS$12.485.8%
+US$157.6m		38.7%PE32.8x
CSGP CoStar GroupUS$39.950.5%
+US$75.6m		-45.0%PE2395.8x

Latest News

JLL
US$306.05
Jones Lang LaSalle
7D
4.5%
1Y
39.4%

JLL: Fair Value View Weighs Brokerage Tailwinds Against AI Scare Trade Risks

Analysts have nudged the fair value estimate for Jones Lang LaSalle slightly lower to about $290 from roughly $291. This reflects updated price targets that balance softer commercial real estate sentiment with mixed views on valuation and future brokerage tailwinds.
FOR
US$24.64
Forestar Group
7D
-0.7%
1Y
16.7%

FOR: Steady Fair Value Will Balance Higher Risk Assumptions And Future P/E Expectations

Analysts now hold their price target for Forestar Group at $26.00. The latest update reflects slightly adjusted assumptions on discount rate, revenue growth, profit margin, and future P/E, which keep the headline valuation level unchanged.
OPEN
US$4.74
Opendoor Technologies
7D
-1.3%
1Y
379.8%

OPEN: Margin Cohorts And Acquisition Ramp Will Support Future Earnings Turnaround

Narrative Update Analysts have raised their price targets on Opendoor Technologies by a few dollars per share, citing higher assumptions for future gross margins and contribution margins. They still expect the company to report losses relative to management's goal of achieving positive adjusted net income by year end.
CWK
US$12.48
Cushman & Wakefield
7D
5.8%
1Y
38.7%
CBRE
US$136.60
CBRE Group
7D
3.7%
1Y
15.7%

CBRE: AI Scare Trade And Data Assets Will Shape Future Sentiment

Analysts have trimmed the CBRE Group fair value estimate by about $1.05 to $142.25, reflecting lower published price targets from several firms, even as research notes point to improving commercial real estate trends and limited AI disruption risk for the business. Analyst Commentary Recent Street research on CBRE Group reflects a mix of cautious and constructive views, with several price target changes clustering in a relatively tight range.
NMRK
US$14.63
Newmark Group
7D
2.3%
1Y
36.6%
EXPI
US$5.91
eXp World Holdings
7D
-1.3%
1Y
-37.7%

EXPI: Housing Reset And Spring Agent Rebound Will Support Future Upside

Analysts have trimmed the implied fair value for eXp World Holdings from $11.00 to $9.50 per share, reflecting updated assumptions around softer U.S. housing and agent trends, slightly lower revenue growth and profit margin expectations, and a modestly lower future P/E multiple, even as some research highlights the potential for a housing market reset. Analyst Commentary Recent research on eXp World Holdings presents a mix of optimism around a potential housing market reset and caution linked to current U.S. housing and agent headwinds.
CSGP
US$39.95
CoStar Group
7D
0.5%
1Y
-45.0%
JOE
US$65.15
St. Joe
7D
6.1%
1Y
45.0%
HHH
US$62.81
Howard Hughes Holdings
7D
0.8%
1Y
-6.8%
LB
US$69.23
LandBridge
7D
-3.9%
1Y
16.1%

LB: Capital Returns And Higher Future P/E Will Support Long Term Outlook

Analysts now point to a higher LandBridge price target of about $80, up from $76, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News On February 25, 2026, the Board of Directors authorized a share repurchase plan allowing LandBridge Company LLC to buy back its own equity (Key Developments).
BEKE
US$14.81
KE Holdings
7D
-3.3%
1Y
-24.3%

BEKE: Softer Outlook And Downgrades Will Test Premium Multiple Going Forward

KE Holdings' latest analyst price target has been revised to $23 from $25, as analysts factor in softer revenue expectations and profit margins, along with a higher assumed P/E multiple for the stock. Analyst Commentary Recent Street research signals a more cautious tone around KE Holdings, with price targets trimmed and at least one downgrade highlighting rising concern around the balance between growth expectations, margins, and valuation.
ZG
US$40.64
Zillow Group
7D
0.6%
1Y
-37.8%

ZG: AI And Listing Rule Easing Will Support Long Term Moat

Analysts trimmed their fair value estimate for Zillow Group by just under $1 to $73.83, reflecting slightly higher perceived risk and a modestly lower future P/E multiple, even as their assumptions for revenue growth and profit margins edged up. Analyst Commentary Recent Street research on Zillow Group reflects an active debate around the stock, with many analysts recalibrating price targets and ratings in light of legal, competitive, and technology questions.
LPA
US$3.09
Logistic Properties of the Americas
7D
-10.7%
1Y
-60.9%
NEN
US$58.15
New England Realty Associates Limited Partnership
7D
-4.7%
1Y
-27.3%
ARL
US$14.72
American Realty Investors
7D
-3.7%
1Y
34.9%