Source: U.S. Bureau of Economic Analysis
The term "real estate" is used in the SIC system and in NAICS, but it does not have the same definition in both systems.
SIC definition: This major group includes real estate operators, and owners and lessors of real property, as well as buyers, sellers, developers, agents, and brokers.
NAICS definition: 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. Mortgage REITs are classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles.
Consists of all counties in a state that are parts of metropolitan statistical areas.
For more information about this release go to http://www.bea.gov/newsreleases/regional/gdp_metro/gdp_metro_newsrelease.htm.
U.S. Bureau of Economic Analysis, Quantity Indexes for Real GDP: Private Industries: Finance, Insurance, Real Estate, Rental, and Leasing: Real Estate and Rental and Leasing: Real Estate for United States Metropolitan Portion [QGMPREALUSMP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/QGMPREALUSMP, December 15, 2018.