Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Arizona
AZRERENTLEAQQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
151.95
Year-over-Year Change
14.20%
Date Range
1/1/2005 - 1/1/2025
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Arizona measures the real output of the real estate and rental/leasing sector in the state's economy. This trend is closely watched by economists to gauge the health and growth of Arizona's real estate and service industries.
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 index represents the volume of real estate, rental, and leasing services produced in Arizona, adjusted for inflation. It is a key indicator of economic activity and investment in the state's property and rental markets.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to measure real GDP by industry.
Historical Context
Policymakers and analysts track this index to assess the broader performance of Arizona's economy and real estate sector.
Key Facts
- Arizona's real estate and rental/leasing sector accounts for over 13% of the state's total GDP.
- This index has grown by an average of 2.5% annually over the past decade.
- The index reached an all-time high in 2021 as the state's housing market boomed.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Arizona's real estate, rental, and leasing industries as part of the state's overall GDP.
Q: Why is this trend relevant for users or analysts?
A: The real estate and rental/leasing sector is a critical component of Arizona's economy, so tracking this index helps analysts and policymakers assess the health and growth of these industries.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach to measure real GDP by industry.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to gauge the broader performance of Arizona's economy, as the real estate and rental/leasing sector is a key driver of the state's GDP and economic activity.
Q: Are there update delays or limitations?
A: The data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical 2-3 month lag between the end of the reference quarter and the release of the index value.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate and Rental and Leasing (53) in Arizona (AZRERENTLEAQQGSP), retrieved from FRED.