Residential real estate is real property that is used or available exclusively for occupation and the daily living of individuals and families and for non-commercial purposes, including undeveloped residential lots and housing units. Residential real estate can be classified by the site of the land (plot) and the externalities that surround it (neighborhood) and connect it to other real estate (infrastructure).
Residential real estate involves the sale and rental of land and residences (housing) to individuals and families for daily living, generally either a single-family residence, a semi-detached house or a residential lot. Although they serve as housing (residences), multi-dwelling residential properties, such as apartment complexes or other multifamily housing property larger than a fourplex, are commonly considered commercial property.
Residential real estate comprises site-built and prefabricated single-family detached homes, semi-detached houses and multi-dwelling units. The terms for the different types of residential real estate are regional and vary throughout the English-speaking world.