Real Estate
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Description of Classification
Real Estate (NAICS #531)
Industries in the Real Estate subsector group establishments that are primarily engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services. Establishments primarily engaged in subdividing and developing unimproved real estate and constructing buildings for sale are classified in Subsector 236, Construction of Buildings.Establishments primarily engaged in subdividing and improving raw land for subsequent sale to builders are classified in Subsector 237, Heavy and Civil Engineering Construction.
Real Estate Investment Trusts (REITS) are classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles, because they are considered investment vehicles.
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