Size of the US Real Estate industry
NAICS 531, Real Estate. Every figure on this page was published by a federal statistical agency and carries its source and period. Palanor does not estimate: a period the agency didn’t publish shows as missing, and a figure it withheld shows as withheld.
Key figures
- Receipts (sales, shipments or revenue)
- $672 billion
- 2022 · Economic Census
All establishments, current dollars - Revenue, not seasonally adjusted
- $210 billion
- 2026-Q2 · Quarterly Services Survey
Employer firms, current dollars - Employment
- 1,790,764
- 2026-Q1 · Quarterly Census of Employment and Wages
Private-sector jobs in the third month of each quarter
Over time
How it has changed
Show the numbers
| Period | Value |
|---|---|
| 2026-Q2 | $206 billion |
| 2026-Q1 | $200 billion |
| 2025-Q4 | $200 billion |
| 2025-Q3 | $197 billion |
| 2025-Q2 | $193 billion |
| 2025-Q1 | $195 billion |
| 2024-Q4 | $192 billion |
| 2024-Q3 | $190 billion |
| 2024-Q2 | $188 billion |
| 2024-Q1 | $184 billion |
| 2023-Q4 | $179 billion |
| 2023-Q3 | $175 billion |
| 2023-Q2 | $175 billion |
| 2023-Q1 | $174 billion |
| 2022-Q4 | $163 billion |
| 2022-Q3 | $169 billion |
| 2022-Q2 | $169 billion |
| 2022-Q1 | $165 billion |
| 2021-Q4 | $163 billion |
| 2021-Q3 | $153 billion |
| 2021-Q2 | $146 billion |
| 2021-Q1 | $140 billion |
| 2020-Q4 | $140 billion |
| 2020-Q3 | $136 billion |
| 2020-Q2 | $118 billion |
| 2020-Q1 | $135 billion |
| 2019-Q4 | $135 billion |
| 2019-Q3 | $135 billion |
| 2019-Q2 | $129 billion |
| 2019-Q1 | $125 billion |
| 2018-Q4 | $126 billion |
| 2018-Q3 | $124 billion |
| 2018-Q2 | $122 billion |
| 2018-Q1 | $120 billion |
| 2017-Q4 | $119 billion |
| 2017-Q3 | $116 billion |
| 2017-Q2 | $117 billion |
| 2017-Q1 | $117 billion |
| 2016-Q4 | $113 billion |
| 2016-Q3 | $111 billion |
| 2016-Q2 | $109 billion |
| 2016-Q1 | $109 billion |
| 2015-Q4 | $106 billion |
| 2015-Q3 | $104 billion |
| 2015-Q2 | $103 billion |
| 2015-Q1 | $98.4 billion |
| 2014-Q4 | $97.6 billion |
| 2014-Q3 | $96.6 billion |
| 2014-Q2 | $93.8 billion |
| 2014-Q1 | $93.6 billion |
| 2013-Q4 | $90.3 billion |
| 2013-Q3 | $89.5 billion |
| 2013-Q2 | $87.8 billion |
| 2013-Q1 | $84.3 billion |
| 2012-Q4 | $83.1 billion |
| 2012-Q3 | $80.6 billion |
Source: U.S. Census Bureau, Quarterly Services Survey · Employer firms, current dollars · Agency label: Real Estate
Show the numbers
| Period | Value |
|---|---|
| 2026-Q1 | $3.94 trillion |
| 2025-Q4 | $3.91 trillion |
| 2025-Q3 | $3.88 trillion |
| 2025-Q2 | $3.84 trillion |
| 2025-Q1 | $3.80 trillion |
| 2024-Q4 | $3.75 trillion |
| 2024-Q3 | $3.71 trillion |
| 2024-Q2 | $3.66 trillion |
| 2024-Q1 | $3.61 trillion |
| 2023-Q4 | $3.55 trillion |
| 2023-Q3 | $3.49 trillion |
| 2023-Q2 | $3.42 trillion |
| 2023-Q1 | $3.35 trillion |
| 2022-Q4 | $3.27 trillion |
| 2022-Q3 | $3.18 trillion |
| 2022-Q2 | $3.12 trillion |
| 2022-Q1 | $3.06 trillion |
| 2021-Q4 | $2.98 trillion |
| 2021-Q3 | $2.90 trillion |
| 2021-Q2 | $2.83 trillion |
| 2021-Q1 | $2.78 trillion |
| 2020-Q4 | $2.72 trillion |
| 2020-Q3 | $2.70 trillion |
| 2020-Q2 | $2.62 trillion |
| 2020-Q1 | $2.63 trillion |
| 2019-Q4 | $2.61 trillion |
| 2019-Q3 | $2.58 trillion |
| 2019-Q2 | $2.55 trillion |
| 2019-Q1 | $2.51 trillion |
| 2018-Q4 | $2.49 trillion |
| 2018-Q3 | $2.47 trillion |
| 2018-Q2 | $2.45 trillion |
| 2018-Q1 | $2.41 trillion |
| 2017-Q4 | $2.36 trillion |
| 2017-Q3 | $2.32 trillion |
| 2017-Q2 | $2.30 trillion |
| 2017-Q1 | $2.27 trillion |
| 2016-Q4 | $2.24 trillion |
| 2016-Q3 | $2.22 trillion |
| 2016-Q2 | $2.21 trillion |
| 2016-Q1 | $2.18 trillion |
| 2015-Q4 | $2.16 trillion |
| 2015-Q3 | $2.15 trillion |
| 2015-Q2 | $2.13 trillion |
| 2015-Q1 | $2.12 trillion |
| 2014-Q4 | $2.11 trillion |
| 2014-Q3 | $2.10 trillion |
| 2014-Q2 | $2.08 trillion |
| 2014-Q1 | $2.06 trillion |
| 2013-Q4 | $2.07 trillion |
| 2013-Q3 | $2.06 trillion |
| 2013-Q2 | $2.01 trillion |
| 2013-Q1 | $2.00 trillion |
| 2012-Q4 | $1.96 trillion |
| 2012-Q3 | $1.96 trillion |
| 2012-Q2 | $1.94 trillion |
| 2012-Q1 | $1.92 trillion |
| 2011-Q4 | $1.94 trillion |
| 2011-Q3 | $1.90 trillion |
| 2011-Q2 | $1.89 trillion |
| 2011-Q1 | $1.85 trillion |
| 2010-Q4 | $1.87 trillion |
| 2010-Q3 | $1.84 trillion |
| 2010-Q2 | $1.83 trillion |
| 2010-Q1 | $1.80 trillion |
| 2009-Q4 | $1.78 trillion |
| 2009-Q3 | $1.78 trillion |
| 2009-Q2 | $1.77 trillion |
| 2009-Q1 | $1.77 trillion |
| 2008-Q4 | $1.77 trillion |
| 2008-Q3 | $1.76 trillion |
| 2008-Q2 | $1.77 trillion |
| 2008-Q1 | $1.76 trillion |
| 2007-Q4 | $1.74 trillion |
| 2007-Q3 | $1.69 trillion |
| 2007-Q2 | $1.64 trillion |
| 2007-Q1 | $1.62 trillion |
| 2006-Q4 | $1.59 trillion |
| 2006-Q3 | $1.54 trillion |
| 2006-Q2 | $1.50 trillion |
| 2006-Q1 | $1.48 trillion |
| 2005-Q4 | $1.49 trillion |
| 2005-Q3 | $1.50 trillion |
| 2005-Q2 | $1.50 trillion |
| 2005-Q1 | $1.47 trillion |
Source: U.S. Bureau of Economic Analysis, GDP by Industry · Current dollars · Agency label: Real estate
NAICS 2022 from 2022-Q1
Show the numbers
| Period | Value | NAICS |
|---|---|---|
| 2026-Q1 | 1,790,764 | 2022 |
| 2025-Q4 | 1,843,376 | 2022 |
| 2025-Q3 | 1,808,936 | 2022 |
| 2025-Q2 | 1,827,537 | 2022 |
| 2025-Q1 | 1,794,744 | 2022 |
| 2024-Q4 | 1,835,621 | 2022 |
| 2024-Q3 | 1,810,417 | 2022 |
| 2024-Q2 | 1,821,168 | 2022 |
| 2024-Q1 | 1,785,572 | 2022 |
| 2023-Q4 | 1,819,052 | 2022 |
| 2023-Q3 | 1,802,401 | 2022 |
| 2023-Q2 | 1,816,468 | 2022 |
| 2023-Q1 | 1,774,791 | 2022 |
| 2022-Q4 | 1,815,056 | 2022 |
| 2022-Q3 | 1,796,237 | 2022 |
| 2022-Q2 | 1,794,712 | 2022 |
| 2022-Q1 | 1,741,004 | 2022 |
| 2021-Q4 | 1,772,437 | 2017 |
| 2021-Q3 | 1,718,599 | 2017 |
| 2021-Q2 | 1,710,252 | 2017 |
| 2021-Q1 | 1,667,512 | 2017 |
| 2020-Q4 | 1,682,736 | 2017 |
| 2020-Q3 | 1,643,806 | 2017 |
| 2020-Q2 | 1,628,648 | 2017 |
| 2020-Q1 | 1,689,464 | 2017 |
| 2019-Q4 | 1,725,239 | 2017 |
| 2019-Q3 | 1,696,468 | 2017 |
| 2019-Q2 | 1,701,841 | 2017 |
| 2019-Q1 | 1,653,338 | 2017 |
Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages · Private-sector jobs in the third month of each quarter
Show the numbers
| Period | Value |
|---|---|
| 2023 | 1,819,631 |
| 2022 | 1,801,455 |
| 2021 | 1,709,890 |
| 2020 | 1,720,076 |
| 2019 | 1,676,886 |
| 2018 | 1,653,814 |
| 2017 | 1,606,886 |
Source: U.S. Census Bureau, County Business Patterns · Paid employees in the pay period including March 12
NAICS 2022 from 2022-Q1
Show the numbers
| Period | Value | NAICS |
|---|---|---|
| 2026-Q1 | 435,977 | 2022 |
| 2025-Q4 | 435,880 | 2022 |
| 2025-Q3 | 431,011 | 2022 |
| 2025-Q2 | 428,506 | 2022 |
| 2025-Q1 | 427,268 | 2022 |
| 2024-Q4 | 432,945 | 2022 |
| 2024-Q3 | 429,535 | 2022 |
| 2024-Q2 | 428,887 | 2022 |
| 2024-Q1 | 427,454 | 2022 |
| 2023-Q4 | 431,967 | 2022 |
| 2023-Q3 | 427,952 | 2022 |
| 2023-Q2 | 423,132 | 2022 |
| 2023-Q1 | 421,814 | 2022 |
| 2022-Q4 | 421,728 | 2022 |
| 2022-Q3 | 414,165 | 2022 |
| 2022-Q2 | 409,177 | 2022 |
| 2022-Q1 | 405,228 | 2022 |
| 2021-Q4 | 402,617 | 2017 |
| 2021-Q3 | 393,473 | 2017 |
| 2021-Q2 | 387,117 | 2017 |
| 2021-Q1 | 382,609 | 2017 |
| 2020-Q4 | 381,553 | 2017 |
| 2020-Q3 | 373,821 | 2017 |
| 2020-Q2 | 368,882 | 2017 |
| 2020-Q1 | 366,055 | 2017 |
| 2019-Q4 | 364,847 | 2017 |
| 2019-Q3 | 358,812 | 2017 |
| 2019-Q2 | 354,912 | 2017 |
| 2019-Q1 | 351,310 | 2017 |
Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages · Private ownership
Show the numbers
| Period | Value |
|---|---|
| 2023 | 414,824 |
| 2022 | 412,944 |
| 2021 | 402,793 |
| 2020 | 383,875 |
| 2019 | 369,953 |
| 2018 | 361,500 |
| 2017 | 349,265 |
Source: U.S. Census Bureau, County Business Patterns
NAICS 2022 from 2022-Q1
Show the numbers
| Period | Value | NAICS |
|---|---|---|
| 2026-Q1 | $41.1 billion | 2022 |
| 2025-Q4 | $40.9 billion | 2022 |
| 2025-Q3 | $34.4 billion | 2022 |
| 2025-Q2 | $33.7 billion | 2022 |
| 2025-Q1 | $39.4 billion | 2022 |
| 2024-Q4 | $38.8 billion | 2022 |
| 2024-Q3 | $32.9 billion | 2022 |
| 2024-Q2 | $32.2 billion | 2022 |
| 2024-Q1 | $37.7 billion | 2022 |
| 2023-Q4 | $36.7 billion | 2022 |
| 2023-Q3 | $31.5 billion | 2022 |
| 2023-Q2 | $30.9 billion | 2022 |
| 2023-Q1 | $36.5 billion | 2022 |
| 2022-Q4 | $36.8 billion | 2022 |
| 2022-Q3 | $32.5 billion | 2022 |
| 2022-Q2 | $30.6 billion | 2022 |
| 2022-Q1 | $34.4 billion | 2022 |
| 2021-Q4 | $36.8 billion | 2017 |
| 2021-Q3 | $28.7 billion | 2017 |
| 2021-Q2 | $27.1 billion | 2017 |
| 2021-Q1 | $29.3 billion | 2017 |
| 2020-Q4 | $31.5 billion | 2017 |
| 2020-Q3 | $24.8 billion | 2017 |
| 2020-Q2 | $23.9 billion | 2017 |
| 2020-Q1 | $29.8 billion | 2017 |
| 2019-Q4 | $29.5 billion | 2017 |
| 2019-Q3 | $24.7 billion | 2017 |
| 2019-Q2 | $24.1 billion | 2017 |
| 2019-Q1 | $27.6 billion | 2017 |
Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages · Private ownership
Show the numbers
| Period | Value |
|---|---|
| 2023 | $126 billion |
| 2022 | $125 billion |
| 2021 | $113 billion |
| 2020 | $102 billion |
| 2019 | $97.5 billion |
| 2018 | $91.1 billion |
| 2017 | $86.4 billion |
Source: U.S. Census Bureau, County Business Patterns
The ledger
Every published measure
| Measure | Source | Latest | Period | History |
|---|---|---|---|---|
| Value added (GDP by industry)Current dollars | GDP by Industry | $3.85 trillion | 2025 | 1997–2025 · 29 published |
| Value added, seasonally adjusted annual rateCurrent dollars | GDP by Industry | $3.94 trillion | 2026-Q1 | 2005-Q1–2026-Q1 · 85 published |
| EmploymentPrivate-sector jobs in the third month of each quarter | Quarterly Census of Employment and Wages | 1,790,764 | 2026-Q1 | 2019-Q1–2026-Q1 · 29 published |
| EstablishmentsPrivate ownership | Quarterly Census of Employment and Wages | 435,977 | 2026-Q1 | 2019-Q1–2026-Q1 · 29 published |
| Total wages in the quarterPrivate ownership | Quarterly Census of Employment and Wages | $41.1 billion | 2026-Q1 | 2019-Q1–2026-Q1 · 29 published |
| Annual payroll | County Business Patterns | $126 billion | 2023 | 2017–2023 · 7 published |
| EmploymentPaid employees in the pay period including March 12 | County Business Patterns | 1,819,631 | 2023 | 2017–2023 · 7 published |
| Establishments | County Business Patterns | 414,824 | 2023 | 2017–2023 · 7 published |
| Annual payroll | Economic Census | $119 billion | 2022 | 2017–2022 · 2 published |
| EmploymentPaid employees in the pay period including March 12 | Economic Census | 1,934,763 | 2022 | 2017–2022 · 2 published |
| Establishments | Economic Census | 415,472 | 2022 | 2017–2022 · 2 published |
| Firms | Economic Census | 343,078 | 2022 | 2017–2022 · 2 published |
| Receipts (sales, shipments or revenue)All establishments, current dollars | Economic Census | $672 billion | 2022 | 2017–2022 · 2 published |
| Revenue, not seasonally adjustedEmployer firms, current dollars | Quarterly Services Survey | $210 billion | 2026-Q2 | 2012-Q3–2026-Q2 · 56 published |
| Revenue, seasonally adjustedEmployer firms, current dollars | Quarterly Services Survey | $206 billion | 2026-Q2 | 2012-Q3–2026-Q2 · 56 published |
Breakdown
Industries within Real Estate
| NAICS | Industry | Size | Employment |
|---|---|---|---|
| 5311 | Lessors of Real Estate | $350 billionReceipts · 2022 · Economic Census | 621,3642026-Q1 · QCEW |
| 5312 | Offices of Real Estate Agents and Brokers | $179 billionReceipts · 2022 · Economic Census | 324,3212026-Q1 · QCEW |
| 5313 | Activities Related to Real Estate | $143 billionReceipts · 2022 · Economic Census | 845,0792026-Q1 · QCEW |
Companies
Public companies in this industry
Companies Palanor tracks whose GICS classification maps to NAICS 531. The mapping is Palanor’s, one GICS sub-industry to one NAICS code; a company’s own mix of business can span several.
- CBRE CBRE Group
- CSGP CoStar Group
- JLL Jones Lang LaSalle
- ADC Agree Realty
- AMH American Homes 4 Rent
- COLD Americold
- CUBE CubeSmart
- EGP EastGroup Properties
- ELS Equity Lifestyle Properties
- FRMI Fermi Inc.
- FR First Industrial Realty Trust
- GLPI Gaming and Leisure Properties
- HR Healthcare Realty Trust
- HHH Howard Hughes Holdings
- KRC Kilroy Realty
- OHI Omega Healthcare Investors
- REXR Rexford Industrial
- STAG STAG Industrial
- SUI Sun Communities
- WPC W. P. Carey
- ZG Zillow (Class A)
- Z Zillow (Class C)
Sources
Where every number comes from
- GDP by Industry, U.S. Bureau of Economic Analysis. Quarterly and annual. Public domain (U.S. Government work). Terms.
- Quarterly Census of Employment and Wages, U.S. Bureau of Labor Statistics. Quarterly. Public domain (U.S. Government work). Terms.
- County Business Patterns, U.S. Census Bureau. Annual. Public domain (U.S. Government work). Terms.
- Economic Census, U.S. Census Bureau. Every five years (2017, 2022). Public domain (U.S. Government work). Terms.
- Quarterly Services Survey, U.S. Census Bureau. Quarterly. Public domain (U.S. Government work). Terms.
Figures are in current dollars and are the agencies’ own, revised when they revise. Each program defines its universe differently (employer firms, private ownership, all establishments), so figures from different sources are not meant to add up. This page is not endorsed by the Census Bureau, BEA or BLS. The same data is in the Palanor API (/v1/industries) and the MCP (palanor_get_industry). All industries.