Conveyancing Services in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: April 2024
NAICS 54119Revenue
$18.5bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
96,720
Businesses
30,644
Wages
$X.Xbn
Conveyancing Services in the US industry analysis
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.
Trends and Insights
- 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 index despite increasing interest rates.
- 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 industry to operate.
- The distribution of establishments in conveyancing services is related to population density. The service-based nature of conveyancing activities enables companies to leverage region-specific advantages, like proximity to key markets and knowledge of local legislation.
- 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, conveyancing services companies have increasingly employed competitive pricing tactics to remain profitable.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 2.7 % over the past five years, to reach an estimated $18.5bn in 2024.
Trends and Insights
Changes in the residential real estate market significantly influence industry performance
- The shift toward the work-from-home model across many office-based industries enabled an exodus from densely populated areas, driving home sales and buoying industry revenue.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to decline over the next five years.
Trends and Insights
The housing market will become unstable
- Rising interest rates, an inadequate housing supply and decreased per capita disposable income will hinder expanding real estate and construction activity.
Biggest companies in the Conveyancing Services in the US
| Company | Market Share (%)
2024 | Revenue ($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 |
To view the market share and analysis for all 24 top companies in this industry, view purchase options.
Products & Services Segmentation
Conveyancing Services in the US
Products & Services
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.
Trends and Insights
Title, abstract and settlement services generate the most revenue
- The industry acts on behalf of its clients, prepares documents for the transfer of real estate titles and represents clients in meetings. Similarly, settlements and closings involve completing contracts to transfer property ownership.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Property, Casualty and Direct Insurance in the US
- Real Estate Appraisal in the US
- Law Firms in the US
- Credit Counselors, Surveyors & Appraisers in the US
International industries
- Law Firms in Canada
- Legal Services in Australia
- Legal Services in New Zealand
- Legal Activities in the UK
- Legal Activities in Ireland
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Real estate settlement servicesReal estate title abstract servicesReal estate title search services Title search companies, real estate Paralegal servicesPatent agent services (i.e., patent filing and searching services) Process server servicesCompanies
Fidelity National Financial, Inc.Old Republic International CorporationFirst American Financial CorporationPurchase this report to view all 24 major companies in this industry.
Related Terms
CONVEYANCINGCLOSINGHOUSING STARTSIndustry Code
NAICS 541120 - Conveyancing Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
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...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The distribution of establishments in conveyancing services is related to population density. The service-based nature of conveyancing activities enables companies to leverag...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
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...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Fidelity is a public company headquartered in Florida. While the conveyancing services industry has encountered obstacles, Fidelity has continued to post strong revenue earni...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Fidelity National Financial, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Old Republic International Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of First American Financial Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 21 additional companies
Detailed analysis
- Description and key data for Fidelity National Financial, Inc., and factors influencing its performance in the industry
- Description and key data for Old Republic International Corporation, and factors influencing its performance in the industry
- Description and key data for First American Financial Corporation, and factors influencing its performance in the industry
- Description, key data and performance trends for 21 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
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...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Companies' cost structures in the conveyancing services industry vary based on several factors, including location and downstream markets. Large companies focusing more energ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Conveyancing Services in the US industry in United States in 2024?
The market size of the Conveyancing Services in the US industry in United States is $18.5bn in 2024.
How many businesses are there in the Conveyancing Services in the US industry 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.
Has the Conveyancing Services in the US industry in United States grown or declined over the past 5 years?
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.
What is the forecast growth of the Conveyancing Services in the US industry in United States over the next 5 years?
Over the next five years, the Conveyancing Services in the US industry in United States is expected to decline.
What are the biggest companies in the Conveyancing Services in the US market in United States?
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
What does the Conveyancing Services in the US in United States include?
Real estate settlement services and Real estate title abstract services are part of the Conveyancing Services in the US industry.
Which companies have the highest market share in the Conveyancing Services in the US in United States?
The company holding the most market share in United States is Fidelity National Financial, Inc..
How competitive is the Conveyancing Services in the US industry in United States?
The level of competition is moderate and steady in the Conveyancing Services in the US industry in United States.
