The Normal Industrial Classification (SIC) system, previously used to categorize companies in the USA, supplied particular codes for varied actual property actions. Whereas these historic designations supplied a standardized option to determine and analyze companies working inside particular sectors, together with actual property leases, they’ve been outdated by the North American Business Classification System (NAICS). For instance, residential property leases may need fallen below a particular four-digit code inside the broader actual property sector within the SIC system.
Standardized trade codes facilitate knowledge assortment and evaluation, enabling authorities companies, researchers, and companies to trace financial developments and make knowledgeable selections. This historic categorization allowed for a granular understanding of the true property rental market, segmenting it by property sort and objective. This detailed data proved helpful for market evaluation, regulatory oversight, and financial planning. Although not in energetic use, understanding these historic classifications can present helpful context for historic knowledge evaluation.