The U.S. real estate market has long been subject to high mortgage rates and rising home prices. As CNBC reported on April 30, home prices rose 6.4% in February compared to the same month last year. Considering record prices in major cities such as San Diego, Los Angeles, Washington, D.C., and New York, affordability concerns remain. When it comes to housing affordability, we also discussed the most affordable metro areas for homebuyers in the United States.
Expensive West Coast metros are reporting monthly price increases, inventory remains limited and has yet to recover since the pandemic. The highest monthly home price increases from February to March were 3.3% in San Jose, 2.7% in San Francisco, 2.4% in Seattle, 2.1% in San Diego, and 2% in Los Angeles. These are his five metros in the U.S. where homeowners are most affected by the mortgage rate lock-in effect, with existing homeowners having to buy at higher interest rates to reduce the cost of their homes. Reluctant to sell. In such supply-limited markets, shoppers tend to compete for fewer choices. Meanwhile, inventories improved in large cities in the south, easing the sharp rise in prices. New construction homes are also expanding options in these housing markets. Some of the affordable, promising cities to buy real estate in 2024 have been previously covered.
Check out the top 5 U.S. real estate companies for 2024.
5. Welltower Inc. (NYSE:WELL)
Market Cap: $56.3 billion
Welltower Inc. (NYSE:WELL) is a real estate investment trust that invests in healthcare infrastructure. Through this medical infrastructure, the company enables better treatments at lower costs. Welltower Inc. (NYSE:WELL) provides real estate capital to post-acute care providers, health systems, and leading senior housing operators. As of May 2, the company’s public market value was $56.3 billion.
4. Equinix, Inc. (NASDAQ:EQIX)
Market Cap: $66 billion
Equinix, Inc. (NASDAQ:EQIX) has a current market cap of $66 billion and is one of the 25 largest real estate companies in the United States. The leading digital infrastructure company serves 33 countries on six continents. Equinix Inc. (NASDAQ:EQIX) has more than 85 data centers in North and South America, strategically located in Brazil, Canada, Colombia, Mexico, and the United States.
3. American Tower Corporation (NYSE:AMT)
Market Capitalization: $82.6 billion
American Tower Corporation (NYSE:AMT) is also an American real estate investment trust that provides the infrastructure for modern digital communications. The company has operations in the United States, Europe, Africa, Asia, and Oceania. In this regard, American Tower Corporation (NYSE:AMT) owns a major portfolio of independent U.S. and international tower properties, excluding U.S. data centers. As of May 2, the company’s market capitalization was $82.6 billion.
2. Prologis, Inc. (NYSE:PLD)
Market Cap: $94.3 Billion
Prologis, Inc. (NYSE:PLD) is the second largest real estate company in the U.S. Properties offered by the company include Gateway and Multimarket Real Estate, Last Touch® Distribution Centers and Urban Distribution Real Estate. Additionally, Prologis, Inc. (NYSE:PLD) reports that 2.8% of the world’s GDP passes through its distribution centers each year. The company’s market capitalization as of May 2 was $94.3 billion.
1. Keller Williams Realty
Annual Sales (2022): $472.9 billion
Keller Williams Realty ranks among the top 25 largest real estate companies in the U.S. in 2024 . The company reported 2022 sales of $472.9 billion. It began with the intention of operating as the real estate company of choice for agents and their clients. It is currently the largest real estate franchise by number of agents, with a total of 191,877 agents worldwide at the end of 2022. Keller Williams Realty has locations in more than 55 locations, including the United States and Canada.