Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Arizona
AZRERENTLEARQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77,250.10
Year-over-Year Change
14.20%
Date Range
1/1/2005 - 1/1/2025
Summary
This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in Arizona. It provides insight into the economic activity and growth of this important sector within the state.
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 GDP for real estate and rental and leasing in Arizona tracks the inflation-adjusted value added by this industry to the state's overall economic output. It is a key indicator of the health and performance of the real estate market and associated services.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
This metric is widely used by economists, policymakers, and real estate analysts to assess economic conditions and guide decision-making.
Key Facts
- Arizona's real estate and rental/leasing GDP accounts for over 15% of the state's total economic output.
- This sector has seen steady growth of around 3% annually over the past decade.
- The COVID-19 pandemic caused a temporary decline in 2020 before a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the real estate and rental and leasing industry in the state of Arizona.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the health and performance of Arizona's real estate market, which is a key driver of the state's overall economic activity.
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 principles.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and real estate analysts use this metric to assess economic conditions and guide decision-making related to the real estate sector in Arizona.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the source agency, and there may be a lag of several months between the end of a reporting period and the release of the latest figures.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Arizona (AZRERENTLEARQGSP), retrieved from FRED.