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

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, data for occupations common to the industry, and projections of occupational employment change.

Employment and Unemployment

Data series Back
data
Jan.
2016
Feb.
2016
Mar.
2016
Apr.
2016

Employment (in thousands)

 

Employment, all employees (seasonally adjusted)

Jump to page with historical data
1,541.5 1,543.0 (P) 1,545.1 (P) 1,545.7

Employment, production and nonsupervisory employees

Jump to page with historical data
1,140.7 1,143.0 (P) 1,148.7  

Unemployment

 

Unemployment rate

Jump to page with historical data
3.6% 3.3% 3.1% 2.4%

Footnotes
(P) Preliminary

(Source: Current Employment Statistics, Current Population Survey

Employment by Occupation

Data series Employment,
2015

Bookkeeping, accounting, and auditing clerks

49,580

General and operations managers

33,690

Landscaping and groundskeeping workers

32,870

Office clerks, general

105,420

Property, real estate, and community association managers

133,910

Real estate brokers

34,380

Real estate sales agents

119,940

(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

Data series Back
data
Dec.
2015
Jan.
2016
Feb.
2016
Mar.
2016

Average hourly earnings

Jump to page with historical data
$25.06 $25.15 $25.26 (P) $25.26

Average weekly hours

Jump to page with historical data
34.2 34.5 34.4 (P) 34.2

Footnotes
(P) Preliminary

(Source: Current Employment Statistics)

Earnings and Hours of Production and Nonsupervisory Employees

Data series Back
data
Dec.
2015
Jan.
2016
Feb.
2016
Mar.
2016

Average hourly earnings

Jump to page with historical data
$20.24 $20.43 $20.46 (P) $20.53

Average weekly hours

Jump to page with historical data
33.5 33.8 33.7 (P) 33.4

Footnotes
(P) Preliminary

(Source: Current Employment Statistics)

Earnings by Occupation

Data series Wages, 2015
Hourly Annual
Median Mean Median Mean

Bookkeeping, accounting, and auditing clerks

$18.45 $19.33 $38,380 $40,210

General and operations managers

$49.19 $61.00 $102,320 $126,890

Landscaping and groundskeeping workers

$11.80 $12.89 $24,540 $26,810

Office clerks, general

$13.63 $14.65 $28,350 $30,470

Property, real estate, and community association managers

$25.34 $31.00 $52,710 $64,490

Real estate brokers

$27.29 $38.58 $56,760 $80,250

Real estate sales agents

$19.03 $26.60 $39,570 $55,340

(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.

Data series 2011 2012 2013 2014

Fatalities

 

Number of fatalities

43 50 48 59

Blank cells indicate no data reported or data that do not meet publication criteria.

Data series 2014

Rate of injury and illness cases per 100 full-time workers

 

Total recordable cases

2.5

Cases involving days away from work, job restriction, or transfer

1.3

Cases involving days away from work

0.9

Cases involving days of job transfer or restriction

0.4

Blank cells indicate no data reported or data that do not meet publication criteria.

(Source: Injuries, Illnesses, and Fatalities)

Workplace Trends

This section presents data on the number of establishments in real estate.

Establishments

Data series Back
data
4th quarter
2014
1st quarter
2015
2nd quarter
2015
3rd quarter
2015

Number of establishments

 

Private industry

Jump to page with historical data
307,026 (P) 306,766 (P) 309,121 (P) 311,759

Local government

Jump to page with historical data
1,676 (P) 1,675 (P) 1,671 (P) 1,670

State government

Jump to page with historical data
28 (P) 28 (P) 28 (P) 28

Federal government

Jump to page with historical data
2 (P) 2 (P) 2 (P) 2

Footnotes
(P) Preliminary

(Source: Quarterly Census of Employment and Wages)

 

Data extracted on: May 20, 2016