Gross Domestic Product: Real Estate (531) in Alabama
ALREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,297.30
Year-over-Year Change
70.23%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Real Estate (531) in Alabama' measures the economic output of the real estate sector in Alabama. This trend is a key indicator of the health and activity of the state's housing and property markets.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the real, inflation-adjusted GDP contribution of the real estate industry in Alabama. It is a component of the overall state GDP and provides insights into the relative size and performance of this important economic sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methodologies.
Historical Context
Economists and policymakers track this trend to assess the strength of Alabama's real estate market and its contribution to broader economic conditions.
Key Facts
- Alabama's real estate GDP was $25.6 billion in 2021.
- The real estate sector accounts for over 12% of Alabama's total economic output.
- Real estate GDP in Alabama has grown by 3.2% annually on average over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted gross domestic product (GDP) generated by the real estate industry in the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: The real estate sector is a critical component of Alabama's economy, and this trend provides important insights into the health and performance of the state's housing and property markets.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using standard national accounting methodologies.
Q: How is this trend used in economic policy?
A: Economists and policymakers track this trend to assess the strength of Alabama's real estate market and its contribution to the broader state economy, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a lag of a few months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate (531) in Alabama (ALREALNGSP), retrieved from FRED.