NAICS Code 531311-05 - House Buyers

Marketing Level - NAICS 8-Digit

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Phone Numbers: 614
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NAICS CODE 531311-05
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NAICS Code 531311-05 Description (8-Digit)

House Buyers are companies or individuals who purchase residential properties with the intention of either reselling them for a profit or renting them out to tenants. This industry involves the acquisition of single-family homes, townhouses, and condominiums. House Buyers may purchase properties in any condition, from move-in ready to fixer-uppers, and may specialize in certain types of properties or geographic areas. The primary goal of House Buyers is to generate income through the ownership and management of residential properties.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531311 page

Tools

Tools commonly used in the House Buyers industry for day-to-day tasks and operations.

  • Real estate market analysis software
  • Property management software
  • Home inspection tools
  • Mortgage calculators
  • Online property listing platforms
  • Marketing and advertising tools
  • Legal and contract management software
  • Financial management software
  • Customer relationship management (CRM) software
  • Home renovation and repair tools

Industry Examples of House Buyers

Common products and services typical of NAICS Code 531311-05, illustrating the main business activities and contributions to the market.

  • Single-family homes
  • Townhouses
  • Condominiums
  • Duplexes
  • Triplexes
  • Fourplexes
  • Vacation homes
  • Investment properties
  • Fixer-uppers
  • Foreclosed properties

History

A concise historical narrative of NAICS Code 531311-05 covering global milestones and recent developments within the United States.

  • The House Buyers industry has a long history dating back to the early 1900s when the first house flipping deals were made. However, it wasn't until the 1980s that the industry began to gain momentum, with the rise of cable television shows like "This Old House" and "Flip This House" that showcased the potential profits of buying and renovating homes. In recent years, the industry has continued to grow, with the advent of online platforms like Zillow and Redfin that make it easier for buyers to find and purchase homes. In the United States, the industry has also been impacted by the 2008 housing crisis, which led to a surge in foreclosures and a subsequent increase in the number of distressed properties available for purchase by house buyers.