Real Gross Domestic Product: Real Estate (531) in Virginia
VAREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77,034.20
Year-over-Year Change
15.25%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures the real gross domestic product (GDP) of the real estate industry in Virginia. It is a key indicator of economic activity and productivity in the state's real estate sector.
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 Virginia series tracks the inflation-adjusted output of the real estate industry, which includes activities such as rental, leasing, and property management. This metric provides insights into the health and performance of a major component of Virginia's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this trend to assess the real estate market's contribution to Virginia's overall economic growth.
Key Facts
- Virginia's real estate industry accounts for over 10% of the state's total GDP.
- The real estate sector has experienced steady growth in Virginia over the past decade.
- This metric is adjusted for inflation to provide a more accurate representation of industry output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) gross domestic product of the real estate industry in the state of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the performance and contribution of Virginia's real estate sector to the state's overall economic growth, which is crucial for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the health and productivity of Virginia's real estate industry, which informs decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is typically released with a few months' delay 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 Virginia (VAREALRGSP), retrieved from FRED.