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U.S. Real Estate Industry Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies115
  • 7D-2.5%
  • 3M-12.4%
  • 1Y-9.9%
  • YTD-20.1%

Over the last 7 days, the Real Estate industry has dropped 2.5%, driven by a pullback from KE Holdings of 8.0%. Meanwhile, Opendoor Technologies actually outperformed within the industry, gaining 8.0% in the last week. Overall the industry is down 9.9% in 12 months. Looking forward, earnings are forecast to grow by 27% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 May 2026US$136.8bUS$130.9bUS$1.4b29.1x97.9x1x
Sat, 25 Apr 2026US$150.1bUS$129.0bUS$1.1b23.2x132.7x1.2x
Mon, 23 Mar 2026US$143.5bUS$127.1bUS$1.3b20.8x111x1.1x
Wed, 18 Feb 2026US$151.1bUS$127.1bUS$2.3b27.3x66x1.2x
Fri, 16 Jan 2026US$178.6bUS$125.6bUS$2.3b30.6x79.2x1.4x
Sun, 14 Dec 2025US$178.9bUS$131.3bUS$2.1b30.2x85.3x1.4x
Tue, 11 Nov 2025US$171.1bUS$131.0bUS$2.1b29.1x81.2x1.3x
Thu, 09 Oct 2025US$178.0bUS$128.0bUS$1.9b23.8x94.3x1.4x
Sat, 06 Sep 2025US$187.3bUS$128.0bUS$1.8b26.2x102.4x1.5x
Mon, 04 Aug 2025US$177.6bUS$126.2bUS$1.7b31.8x102.1x1.4x
Wed, 02 Jul 2025US$163.1bUS$124.6bUS$1.5b28.9x109.2x1.3x
Fri, 30 May 2025US$160.2bUS$124.8bUS$1.6b18.3x101.9x1.3x
Sun, 27 Apr 2025US$165.8bUS$122.8bUS$1.1b21.1x150.2x1.3x
Tue, 25 Mar 2025US$173.7bUS$121.9bUS$1.1b26.5x160.2x1.4x
Thu, 20 Feb 2025US$180.1bUS$117.9bUS$52.3m27.7x3441.2x1.5x
Sat, 18 Jan 2025US$170.2bUS$116.0b-US$27,696,312.8027.5x-6144.5x1.5x
Mon, 16 Dec 2024US$176.2bUS$116.0bUS$4.1m27.6x42691.4x1.5x
Wed, 13 Nov 2024US$179.0bUS$115.5b-US$8,655,565.2927.7x-20683.1x1.6x
Fri, 11 Oct 2024US$166.9bUS$112.7b-US$1,088,051,513.2237.9x-153.4x1.5x
Sun, 08 Sep 2024US$147.8bUS$113.1b-US$607,277,009.0030.3x-243.4x1.3x
Tue, 06 Aug 2024US$142.1bUS$111.5b-US$373,283,053.0626.4x-380.8x1.3x
Thu, 04 Jul 2024US$131.4bUS$110.6bUS$542.5m28.1x242.1x1.2x
Sat, 01 Jun 2024US$133.9bUS$110.6bUS$323.0m27.5x414.4x1.2x
Mon, 29 Apr 2024US$135.2bUS$113.4bUS$266.7m26.7x506.8x1.2x
Wed, 27 Mar 2024US$141.3bUS$113.5bUS$406.2m30.1x347.8x1.2x
Fri, 23 Feb 2024US$134.0bUS$114.0bUS$85.2m20.7x1572.8x1.2x
Sun, 21 Jan 2024US$130.2bUS$115.4b-US$619,622,308.0023.9x-210.2x1.1x
Tue, 19 Dec 2023US$139.5bUS$115.2b-US$729,661,678.0024.1x-191.1x1.2x
Thu, 16 Nov 2023US$122.6bUS$115.0b-US$787,899,489.0026.2x-155.6x1.1x
Sat, 14 Oct 2023US$118.8bUS$119.3b-US$365,169,355.0028x-325.4x1x
Mon, 11 Sep 2023US$132.4bUS$117.9b-US$163,768,049.0030.5x-808.7x1.1x
Wed, 09 Aug 2023US$137.4bUS$117.2b-US$700,391,043.0034.2x-196.2x1.2x
Fri, 07 Jul 2023US$128.1bUS$122.2b-US$130,162,950.0024.7x-984x1x
Sun, 04 Jun 2023US$91.2bUS$120.9b-US$520,265,472.0022.4x-175.3x0.8x
Price to Earnings Ratio

-175.3x


Total Market Cap: US$91.2bTotal Earnings: -US$520,265,472.00Total Revenue: US$120.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Real Estate Industry Price to Earnings3Y Average 1010.7x202420252026
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 97.9x which is lower than its 3-year average PE of 1kx.
  • The 3-year average PS ratio of 1.3x is higher than the industry's current PS ratio of 1.0x.
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 grown 2.7% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

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

US Market1.27%
Real Estate0.41%
Real Estate-2.46%
Real Estate Development0.27%
Diversified Real Estate-0.73%
Real Estate Services-2.28%
Real Estate Operating Companies-6.47%
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 26.1%, which is higher than its past year's earnings growth of 3.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate Operating Companies industry, expecting annual earnings growth of 52% over the next 5 years.
  • This is better than its past earnings decline of 27% per year.
  • In contrast, the Diversified Real Estate industry is expected to see its earnings decline by 19% 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
OPEN Opendoor TechnologiesUS$4.758.0%
+US$335.4m		600.8%PS1.2x
FOR Forestar GroupUS$27.304.9%
+US$64.8m		41.2%PE8.3x
TCI Transcontinental Realty InvestorsUS$40.1411.3%
+US$35.2m		9.2%PE37.1x
COMP CompassUS$8.380.5%
+US$29.9m		44.0%PE431.8x
ARL American Realty InvestorsUS$15.299.3%
+US$21.0m		12.8%PE20.3x

Latest News

OPEN
US$4.75
Opendoor Technologies
7D
8.0%
1Y
600.8%
ARL
US$15.29
American Realty Investors
7D
9.3%
1Y
12.8%
LB
US$72.25
LandBridge
7D
-4.7%
1Y
-5.1%
BEKE
US$16.62
KE Holdings
7D
-8.0%
1Y
-9.7%
ZG
US$36.37
Zillow Group
7D
-1.5%
1Y
-45.1%
COMP
US$8.38
Compass
7D
0.5%
1Y
44.0%
CSGP
US$32.32
CoStar Group
7D
-5.0%
1Y
-56.5%
HBNB
US$5.85
Hotel101 Global Holdings
7D
-2.8%
1Y
-45.8%
Narrative Update • May 20

Hotel101-Madrid Hits 100% Occupancy, Generates Record €100,000+ Single-Day Revenue, 334% Upside Intact

Hotel101 Global Holdings (Nasdaq: HBNB) announced on May 19, 2026 that its 680-room Hotel101-Madrid generated more than €100,000 (approximately US$116,000) in recurring room revenues in a single day at 100% occupancy. The result is significant because Hotel101-Madrid is the company’s first operating property outside the Philippines and serves as the global prototype for its international expansion strategy.
SRG
US$2.68
Seritage Growth Properties
7D
11.7%
1Y
-5.6%
Seeking Alpha • May 20

Seritage Growth Properties: No Further Reported Progress In Contracts For Asset Sales

Summary Seritage reported that it has no assets under contract with probable closings as of mid-May 2026. Cash burn before asset sale proceeds appears to be around $9 million to $10 million per quarter. It has $50 million in term loan debt maturing at the end of July that it needs to deal with. Seritage also reported approximately $20 million in asset impairments during the quarter, highlighting some potential downside risk to the balance sheet values. I estimate Seritage's value at $2.25 to $2.75 per share now, with risks weighted more towards the downside. Read the full article on Seeking Alpha
CBRE
US$130.15
CBRE Group
7D
-0.7%
1Y
5.2%
Narrative Update • May 19

CBRE: Future Returns Will Reflect Limited AI Disruption And Aggressive Share Repurchases

Analysts trimmed their fair value estimate for CBRE Group by about $3 to $178.33, reflecting a lower future P/E assumption of roughly 22.8x, even as they factor in slightly higher revenue growth and profit margin potential and point to recent research that plays down AI disruption risks to the commercial real estate services model. Analyst Commentary Recent research around CBRE Group centers on how AI, sentiment swings and changing return expectations are feeding into valuation work and risk assessments.
JLL
US$289.98
Jones Lang LaSalle
7D
-1.0%
1Y
31.8%
TCI
US$40.14
Transcontinental Realty Investors
7D
11.3%
1Y
9.2%
Analysis Article • May 14

Impressive Earnings May Not Tell The Whole Story For Transcontinental Realty Investors (NYSE:TCI)

Despite posting some strong earnings, the market for Transcontinental Realty Investors, Inc.'s ( NYSE:TCI ) stock...
INTG
US$40.69
InterGroup
7D
9.8%
1Y
239.1%
JOE
US$63.87
St. Joe
7D
-1.7%
1Y
45.7%
FOR
US$27.30
Forestar Group
7D
4.9%
1Y
41.2%
Narrative Update • May 02

FOR: Steady Fair Value Will Reflect 2026 Revenue And Lot Delivery Plans

Analysts have kept their $26.00 price target for Forestar Group unchanged, citing slightly lower discount rate and revenue growth assumptions, along with a small adjustment to profit margin and future P/E expectations that together support a steady valuation view. What's in the News Forestar Group maintained its fiscal 2026 revenue guidance in a range of $1.6b to $1.7b, giving investors a defined revenue expectation for that year (Key Developments).
FPH
US$4.98
Five Point Holdings
7D
2.3%
1Y
-10.8%