$18.5bn
$XX.Xbn
96,720
30,644
$X.Xbn
The industry grew following consistent housing starts and increased home sales. Nonetheless, the recession caused by COVID-19 halted economic production, decreasing demand for commercial real estate and construction activity. Interest rates dropped following the shutdown of the economy, which encouraged home sales and housing starts; this ultimately dampened revenue loss in 2020. Still, the Federal Reserve increased interest rates substantially in 2023 to combat inflation, which has increased the cost of mortgages and reduced demand for real estate by making financing much more expensive. So industry-wide revenue has decreased at a CAGR of 1.3% over the past five years – including an estimated 15.3% in the current year – and is expected to total $18.3 billion in 2023, while profit drops to 9.4%.Since industry performance depends on the health of the US real estate market and overall economy, which have both exhibited volatility primarily because of COVID-19, housing starts and home sales spurred by a mass exodus from densely populated areas carried the industry through the recession. A rising number of housing starts, at an annualized rate of 2.8% over the past five years, bolstered demand for conveyancing services. Although the coronavirus impeded commercial construction, significant residential construction activity has supported revenue. Low interest rates have encouraged housing demand in the residential sector.Increased inflation and rising interest rates, combined with the drop in the existing home sale market, will challenge industry growth. Housing starts will drop at an annualized rate of 7.5%, increasing the house price index as the supply lessens. These factors will restrict industry demand, hindering industry expansion. So, industry revenue is expected to drop at a CAGR of 0.5% to $17.8 billion over the five years to 2028.
Industry revenue has declined at a CAGR of 2.7 % over the past five years, to reach an estimated $18.5bn in 2024.
Market size is projected to decline over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Fidelity National Financial, Inc. | 3,710.9 | 553.2 | 14.9 | |
Old Republic International Corporation | 3,476.7 | 521.6 | 15.0 | |
First American Financial Corporation | 2,992.2 | 562.1 | 18.8 |
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Industry revenue is measured across several distinct product and services lines, including Title, abstract and settlement services, Title search and other document filing services and Patent copyright and other intellectual property document services. Title, abstract and settlement services is the largest segment of the Conveyancing Services in the US.
Title, abstract and settlement services generate the most revenue
This industry comprises companies and legal practitioners that provide conveyancing services to individuals and corporate clients. Conveyancing, the process of transferring ownership of land or property from one person or entity to another, requires specialists to advise parties, prepare documentation and conduct the settlement process. Other industry offerings include arbitration services, expert witness services and assistance with intellectual property claims.
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NAICS 541120 - Conveyancing Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The industry grew through consistent housing starts and increased home sales. The first half of the period experienced a strong economy with a steadily rising house price ind...
Learn about an industry's products and services, markets and trends in international trade.
Title, abstract and settlement services generate the most revenue. Government regulations impact the demand for the segment, as specific laws may make it harder for the indus...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The distribution of establishments in conveyancing services is related to population density. The service-based nature of conveyancing activities enables companies to leverag...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Competition is primarily based on the relative price of each company's services, the quality of services provided and each operator's geographic location. For instance, conve...
Learn about the performance of the top companies in the industry.
Fidelity is a public company headquartered in Florida. While the conveyancing services industry has encountered obstacles, Fidelity has continued to post strong revenue earni...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Regulations differ among states, depending on local legal requirements. As a result, many companies have several small independent offices across the country that must adhere...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Companies' cost structures in the conveyancing services industry vary based on several factors, including location and downstream markets. Large companies focusing more energ...
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Conveyancing Services in the US industry in United States is $18.5bn in 2024.
There are 30,644 businesses in the Conveyancing Services in the US industry in United States, which has declined at a CAGR of 1.4 % between 2019 and 2024.
The market size of the Conveyancing Services in the US industry in United States has been declining at a CAGR of 2.7 % between 2019 and 2024.
Over the next five years, the Conveyancing Services in the US industry in United States is expected to decline.
The biggest companies operating in the Conveyancing Services market in United States are Fidelity National Financial, Inc., Old Republic International Corporation and First American Financial Corporation
Real estate settlement services and Real estate title abstract services are part of the Conveyancing Services in the US industry.
The company holding the most market share in United States is Fidelity National Financial, Inc..
The level of competition is moderate and steady in the Conveyancing Services in the US industry in United States.