Definition and Demographics of Real Estate:
Real Estate, also known as realty, is defined as land plus anything permanently fixed to it, including buildings, sheds and other items attached to the structure. There are different classifications of real estate such as raw land, residential, commercial, and industrial. Types of real estate include but are not limited to houses, apartments, condos, town homes, retail store buildings, factories, and warehouses.
The Unites states has a total population of 301 million and 125 million homes. Of the 125 million, 109 million are occupied year round and 16 million are not. 75 million of the homes occupied year round are occupied by home owners and 34 million are occupied by renters. Half of all homes were built before 1973. Read more