Real Estate: NAICS 531
About the Real Estate subsector
The real estate subsector is part of the real estate and rental and leasing sector.
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.
This subsector includes equity Real Estate Investment Trusts (REITs) that are primarily engaged in leasing buildings, dwellings, or other real estate property to others.
North American Industry Classification System
The real estate subsector consists of these industry groups:
- Lessors of Real Estate: NAICS 5311
- Offices of Real Estate Agents and Brokers: NAICS 5312
- Activities Related to Real Estate: NAICS 5313
NOTE: There was a change in the definition of this subsector between NAICS 2002 and NAICS 2007. Some of the data below reflect the 2002 definition and some reflect the 2007 definition. See the BLS
implementation schedule for NAICS 2007 to find out which BLS programs have already implemented NAICS 2007.
Workforce Statistics
This section provides information relating to employment and unemployment in real estate.
While most data are obtained from employer or establishment surveys, information on industry unemployment comes from a national survey of households.
The following tables present an overview of the industry including
the number of jobs,
the unemployment rate of those previously employed in the industry,
mass layoffs,
data for occupations common to the industry,
and projections of occupational employment change.
Employment, Unemployment, and Layoffs
(Source: Current Employment Statistics, Current Population Survey, Mass Layoff Statistics)
Extended Mass Layoffs
(Source: Mass Layoff Statistics)
Employment by Occupation
Data series |
Employment, 2011 |
Bookkeeping, accounting, and auditing clerks |
49,380 |
General and operations managers |
24,510 |
Landscaping and groundskeeping workers |
34,630 |
Maintenance and repair workers, general |
|
Office clerks, general |
90,880 |
Property, real estate, and community association managers |
110,810 |
Real estate brokers |
34,220 |
Real estate sales agents |
131,250 |
(Source: Occupational Employment Statistics)
Projections
For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for real estate.
(Source: Office of Occupational Statistics and Employment Projections)
Earnings and Hours
This section presents data on employee earnings and weekly hours.
The latest industry averages of hourly earnings and weekly hours are shown.
In addition, recent hourly and annual earnings are shown for occupations commonly found in real estate.
Earnings and Hours of All Employees
(Source: Current Employment Statistics)
Earnings and Hours of Production and Nonsupervisory Employees
(Source: Current Employment Statistics)
Earnings by Occupation
Data series |
Wages, 2011 |
Hourly |
Annual |
Median |
Mean |
Median |
Mean |
Bookkeeping, accounting, and auditing clerks |
$17.06 |
$17.78 |
$35,490 |
$36,990 |
General and operations managers |
$47.97 |
$60.34 |
$99,770 |
$125,520 |
Landscaping and groundskeeping workers |
$11.06 |
$11.96 |
$23,000 |
$24,880 |
Maintenance and repair workers, general |
|
|
|
|
Office clerks, general |
$12.16 |
$13.10 |
$25,300 |
$27,250 |
Property, real estate, and community association managers |
$23.97 |
$29.04 |
$49,860 |
$60,410 |
Real estate brokers |
$28.38 |
$40.53 |
$59,030 |
$84,310 |
Real estate sales agents |
$18.05 |
$23.86 |
$37,540 |
$49,640 |
(Source: Occupational Employment Statistics)
Work-related Fatalities, Injuries, and Illnesses
This section presents data for the industry on the number of workplace fatalities and the rates of workplace injuries and illnesses per 100 full-time workers in real estate. An injury or illness is considered to be work-related if an event or exposure in the work environment either caused or contributed to the resulting condition or significantly aggravated a pre-existing condition.
(Source: Injuries, Illnesses, and Fatalities)
Workplace Trends
This section presents data on the number of establishments in real estate.
Establishments
(Source: Quarterly Census of Employment and Wages)
Other BLS Resources
Career Guide to Industries
To learn about careers from an industry perspective, see the Career Guide to Industries.
Data extracted on:
September 27, 2012