Real Gross Domestic Product: Real Estate (531) in the District of Columbia
DCREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,983.70
Year-over-Year Change
35.38%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Real Estate (531) in the District of Columbia measures the economic output of the real estate sector in DC. This trend is important for policymakers and economists to gauge the health and growth of the local real estate market.
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 gross domestic product (GDP) of the real estate industry in the District of Columbia. It provides insight into the scale and performance of this critical economic sector within the regional economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
Analysts and policymakers monitor this metric to assess the real estate market's contribution to overall economic activity and development in the nation's capital.
Key Facts
- Real estate accounts for over 25% of DC's total GDP.
- This metric has grown by an average of 3.2% annually over the past decade.
- The District of Columbia has one of the highest real estate output levels among U.S. states and territories.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real, inflation-adjusted gross domestic product (GDP) contribution of the real estate industry within the District of Columbia.
Q: Why is this trend relevant for users or analysts?
A: The real estate sector is a critical driver of economic activity in DC, so this metric provides important insight into the local market's performance and outlook.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this metric to assess the real estate market's contribution to overall economic activity and development in the nation's capital.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately 2-3 months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in the District of Columbia (DCREALRGSP), retrieved from FRED.