Real Gross Domestic Product: Real Estate (531) in North Carolina
NCREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75,583.90
Year-over-Year Change
34.90%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Real Gross Domestic Product: Real Estate (531) in North Carolina' metric measures the inflation-adjusted economic output of the real estate sector in North Carolina. This trend is closely watched by economists and policymakers to gauge the health of the state's housing and construction 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 gross domestic product (GDP) of the real estate industry, which includes activities related to the rental, leasing, and operation of real estate, in the state of North Carolina. It is a key indicator of economic activity and can provide insights into the broader housing and construction landscape.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and statistical models.
Historical Context
Real estate GDP is an important metric for understanding the drivers of economic growth and informing policymaking decisions in North Carolina.
Key Facts
- North Carolina's real estate GDP accounts for over 15% of the state's total economic output.
- The real estate sector is the largest contributor to North Carolina's GDP, outpacing manufacturing and agriculture.
- Real estate GDP in North Carolina has grown by an average of 3.2% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This metric measures the inflation-adjusted economic output of the real estate industry in the state of North Carolina, including activities related to the rental, leasing, and operation of real estate.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of the health and performance of North Carolina's housing and construction markets, providing valuable insights for economists, policymakers, and real estate professionals.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of economic indicators and statistical models.
Q: How is this trend used in economic policy?
A: Real estate GDP is an important metric for understanding the drivers of economic growth and informing policymaking decisions in North Carolina, particularly related to housing, construction, and infrastructure development.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Bureau of Economic Analysis, with a typical lag of 2-3 months. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in North Carolina (NCREALRGSP), retrieved from FRED.