A real estate can be defined as property that has land which can either have an establishment like buildings, natural resources like water, crops and other natural resources.
The real estate market can be categorized in four diverse steps. The residential type of real estate is the kind that does feature homes that are in for resale or building that are new in construction. Various homes fall under the residential real estate, and they include vacation homes, townhouses or even single-family homes.
Real estate also refers to producing, buying and selling real estate. Real estate affects the U.S. economy by being a critical driver of economic growth.
Construction of new buildings is a component of gross domestic product. It includes both residential, commercial, and industrial buildings. In 2017, it contributed $1.03 trillion, or 7 percent, to the U.S. economy.
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