Real estate is property comprised of land and the buildings on it as well as the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals. Although media often refers to the “real estate
market” from the perspective of residential living, real estate can be grouped into three broad categories based on its use: residential, commercial and industrial. Examples of residential real estate include undeveloped land, houses, condominiums
and townhomes; examples of commercial real estate
are office buildings, warehouses and retail store buildings; and examples of industrial real estate are factories, mines and farms.