Real Gross Domestic Product: Real Estate (531) in Arizona
AZREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66,719.50
Year-over-Year Change
51.53%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Real Estate (531) in Arizona measure tracks the economic output of the real estate sector in the state. This metric is crucial for understanding the health and dynamics of Arizona's real estate industry and its broader economic impact.
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
The Real Gross Domestic Product: Real Estate (531) in Arizona represents the real (inflation-adjusted) value added by the real estate industry to the state's overall economic output. This statistic is a key indicator of the real estate sector's performance and can inform policymakers and analysts about broader economic trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Historical Context
This trend is widely used by economists, policymakers, and real estate market participants to assess the economic conditions and outlook for Arizona's real estate industry.
Key Facts
- Arizona's real estate GDP was $49.8 billion in 2021.
- The real estate sector accounts for 13.5% of Arizona's total economic output.
- Real estate GDP in Arizona has grown by 4.2% annually over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Real Estate (531) in Arizona measures the real (inflation-adjusted) economic output of the real estate industry in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the health and dynamics of Arizona's real estate sector and its broader economic impact, which is important for policymakers, investors, and industry participants.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting frameworks.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and real estate market participants to assess the economic conditions and outlook for Arizona's real estate industry, which can inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in Arizona (AZREALRGSP), retrieved from FRED.