As an important part of the national economy, the real estate industry plays an important role in this era when the construction of new urbanization is the requisite for national economic development, so it is of research value to analyze the development efficiency in combination with the background of new urbanization. Therefore, this paper studies the development efficiency of real estate industry in Shanxi Province from 2007 to 2018 based on DEA model taking the context of new urbanization into account. Results show that the overall development level of the real estate industry in Shanxi Province is relatively high, but scale efficiency is the main factor restricting the improvement of the development efficiency in this regard, and it remains to be further strengthened since the construction of new urbanization in Shanxi Province has not made great efforts to promote real estate development. This paper fills the gap of the research on the efficiency of real estate development in Shanxi Province, and aims to provide reference evidence for the government to regulate the real estate industry, which is conducive to the competitiveness of Shanxi real estate industry.