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Introduction to the Real Estate and Construction Industry, Business and Industry Trends Analysis

The real estate and construction sectors, including the many professions and fields associated with them, are among the larger components of the global economy. As of year-end 2023, the U.S. Bureau of Labor estimated that 8 million Americans were employed in the construction industry (up from 7.26 million at the beginning of 2020). The agency also estimated that 1.86 million Americans were employed in the real estate industry as of year-end 2023.

Home prices have risen to the point that bargains are hard to come by and many would-be purchasers are priced out of the market. In 2022 through early 2024, there was very little inventory of homes for sale in the U.S. and many other nations.

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