An Updated Look at the Size of the U.S. Real Estate Market Portfolio

Using 1989 data on aggregate real estate values for a sample of counties, this paper develops estimates of the total value of real estate by property type in the United States. The values for commercial and residential property are also reported by region and for the forty-four largest MSAs. The estimated total value of commercial real estate is compared with the value of other investment asset classes, and implications are drawn for investment portfolios.