S&P 500 Real Estate PE Ratio

The S&P 500 Real Estate currently trades at a current P/E ratio of 35.48 as of October 24, 2025.

Over the past five years, the median P/E has been 35.6, putting today's valuation close to the median of that range. Looking at the longer 10-year period, where the median sits at 36.69, the current reading ranks in the 35th percentile - a level historically associated with Undervalued pricing. The 20-year median of 36.02 provides additional context, with the current ratio close to the median of that extended timeframe.

Since February 2007, the S&P 500 Real Estate has recorded a median P/E ratio of 36.02 over 19 years. Against this full historical backdrop, the current valuation sits close to the median of all recorded readings, indicating that the market is trading in line with its long-term median.

Historical P/E Comparison

The table below compares the current P/E Ratio (35.48) with its historical median and percentile rankings.

Time Period	Median PE Ratio	Percentile Rank	Valuation
1 Year	35.46	58.3	Fair Value
5 Year	35.6	50	Fair Value
10 Year	36.69	35	Undervalued
20 Year	36.02	40.9	Fair Value
Since Feb 2007	36.02	40.9	Fair Value

Forward P/E for S&P 500 Real Estate

Returns vs P/E Ratio

Over the past decade, the PE fell from 36 (45.2th percentile) to 35.48 (35th percentile). Annualized total return over this period was 3.1%. Percentile rank indicates position within the historical distribution. Lower valuations do not guarantee near-term gains; markets can stay discounted for long, though starting points are generally more supportive for long-horizon outcomes.

Time Period	Starting PE Ratio	Starting Percentile	Total Return	Annualized Return
1 Year	38.59	67.2	-3.5%	-3.5%
3 Year	32.16	22.3	+22.7%	+7.1%
5 Year	47.37	86.9	+21.6%	+4%
10 Year	35.99	45.2	+36.2%	+3.1%

Historical Data (2007-2025)

Date	Current PE Ratio
Oct 2025	35.48
Sep 2025	34.79
Aug 2025	35.81
Jul 2025	34.34
Jun 2025	34.35
May 2025	35.12
Apr 2025	37.30
Mar 2025	35.44
Feb 2025	37.78
Jan 2025	37.11
Dec 2024	35.38
Nov 2024	39.12
Oct 2024	38.59
Sep 2024	36.98
Aug 2024	37.97
Jul 2024	35.21
Jun 2024	33.15
May 2024	32.36
Apr 2024	32.12
Mar 2024	33.96
Feb 2024	35.72
Jan 2024	32.65
Dec 2023	36.53
Nov 2023	30.95
Oct 2023	29.41
Sep 2023	27.72
Aug 2023	29.88
Jul 2023	30.61
Jun 2023	28.70
May 2023	27.65
Apr 2023	28.73
Mar 2023	27.74
Feb 2023	26.42
Jan 2023	34.59
Dec 2022	34.45
Nov 2022	34.18
Oct 2022	32.16
Sep 2022	31.99
Aug 2022	36.18
Jul 2022	35.14
Jun 2022	34.47
May 2022	37.57
Apr 2022	40.25
Mar 2022	42.58
Feb 2022	40.80
Jan 2022	43.03
Dec 2021	48.46
Nov 2021	44.70
Oct 2021	46.30
Sep 2021	48.61
Aug 2021	48.27
Jul 2021	51.46
Jun 2021	51.54
May 2021	48.04
Apr 2021	50.63
Mar 2021	48.18
Feb 2021	46.06
Jan 2021	47.80
Dec 2020	47.17
Nov 2020	49.19
Oct 2020	47.37
Sep 2020	46.51
Aug 2020	48.25
Jul 2020	46.24
Jun 2020	46.10
May 2020	42.26
Apr 2020	32.07
Mar 2020	32.07
Feb 2020	41.86
Jan 2020	42.10
Dec 2019	40.59
Nov 2019	42.47
Oct 2019	41.81
Sep 2019	43.37
Aug 2019	42.67
Jul 2019	41.55
Jun 2019	42.21
May 2019	40.77
Apr 2019	40.12
Mar 2019	40.47
Feb 2019	39.63
Jan 2019	37.08
Dec 2018	34.51
Nov 2018	37.76
Oct 2018	35.88
Sep 2018	36.43
Aug 2018	37.70
Jul 2018	37.72
Jun 2018	36.31
May 2018	35.87
Apr 2018	35.20
Mar 2018	36.02
Feb 2018	34.12
Jan 2018	35.90
Dec 2017	37.19
Nov 2017	38.01
Oct 2017	37.33
Sep 2017	37.54
Aug 2017	36.70
Jul 2017	36.70
Jun 2017	36.67
May 2017	36.42
Apr 2017	37.18
Mar 2017	37.04
Feb 2017	36.02
Jan 2017	35.01
Dec 2016	35.54
Nov 2016	34.80
Oct 2016	34.04
Sep 2016	35.31
Aug 2016	37.40
Jul 2016	38.21
Jun 2016	38.10
May 2016	35.64
Apr 2016	35.23
Mar 2016	36.01
Feb 2016	33.09
Jan 2016	32.78
Dec 2015	35.72
Nov 2015	35.99
Oct 2015	35.99
Sep 2015	33.57
Aug 2015	35.54
Jul 2015	33.38
Jun 2015	33.38
May 2015	34.15
Apr 2015	35.98
Mar 2015	34.92
Feb 2015	36.40
Jan 2015	37.21
Dec 2014	35.64
Nov 2014	35.48
Oct 2014	34.71
Sep 2014	33.18
Aug 2014	35.38
Jul 2014	35.54
Jun 2014	35.26
May 2014	35.01
Apr 2014	34.37
Mar 2014	34.37
Feb 2014	33.61
Jan 2014	35.07
Dec 2013	34.79
Nov 2013	35.63
Oct 2013	37.32
Sep 2013	36.86
Aug 2013	34.39
Jul 2013	35.36
Jun 2013	35.59
May 2013	36.21
Apr 2013	36.17
Mar 2013	36.13
Feb 2013	36.35
Jan 2013	36.20
Dec 2012	35.56
Nov 2012	34.52
Oct 2012	35.80
Sep 2012	37.45
Aug 2012	37.95
Jul 2012	37.68
Jun 2012	35.97
May 2012	34.67
Apr 2012	38.60
Mar 2012	38.53
Feb 2012	38.06
Jan 2012	37.46
Dec 2011	36.75
Nov 2011	33.70
Oct 2011	34.04
Sep 2011	33.53
Aug 2011	32.53
Jul 2011	36.77
Jun 2011	39.13
May 2011	38.51
Apr 2011	39.86
Mar 2011	37.86
Feb 2011	38.89
Jan 2011	39.20
Dec 2010	39.76
Nov 2010	41.26
Oct 2010	40.93
Sep 2010	44.11
Aug 2010	45.60
Jul 2010	44.90
Jun 2010	41.81
May 2010	45.66
Apr 2010	51.86
Mar 2010	55.77
Feb 2010	48.87
Jan 2010	54.44
Dec 2009	56.57
Nov 2009	53.20
Oct 2009	48.37
Sep 2009	48.37
Aug 2009	41.95
Jul 2009	52.24
Jun 2009	38.16
May 2009	41.37
Apr 2009	34.42
Mar 2009	27.53
Feb 2009	21.86
Jan 2009	26.38
Dec 2008	28.02
Nov 2008	21.35
Oct 2008	21.64
Sep 2008	29.95
Aug 2008	28.87
Jul 2008	24.67
Jun 2008	28.71
May 2008	29.46
Apr 2008	29.58
Mar 2008	28.01
Feb 2008	27.14
Jan 2008	24.54
Dec 2007	27.55
Nov 2007	28.78
Oct 2007	33.97
Sep 2007	30.75
Aug 2007	28.49
Jul 2007	33.70
Jun 2007	33.60
May 2007	35.41
Apr 2007	34.11
Mar 2007	33.45
Feb 2007	36.61

Sector Comparison

The table below shows a comparison of the current P/E Ratio (35.48) with other sectors.

Sector	PE Ratio	Percentile Rank	Rating
S&P 500 Consumer Discretionary	29.74	85.80	Expensive
S&P 500 Consumer Staples	22.25	75	Overvalued
S&P 500 Health Care	24.51	80.80	Expensive
S&P 500 Industrials	26.90	97.50	Expensive
S&P 500 Information Technology	40.44	99.20	Expensive
S&P 500 Materials	26.32	98.30	Expensive
S&P 500 Communication Services	19.84	64.20	Overvalued
S&P 500 Utilities	22.47	98.30	Expensive
S&P 500 Financials	19.32	99.20	Expensive
S&P 500 Energy	16.98	58.30	Fair Value

Definition: Trailing P/E Ratio

The trailing P/E ratio for S&P 500 Real Estate shows how much investors are paying for one unit of the index's past earnings.
It is calculated as : P/E = Index level / Aggregated EPS
Aggregated EPS means the index's total earnings per share after weighting each stock in the index (usually by its market capitalization): Aggregated EPS = sum(weight_i * EPS_i). For trailing P/E, the EPS_i values are the actual earnings from the past 12 months.