Gross Domestic Product: Real Estate and Rental and Leasing (53) in Virginia
VARERENTLEANQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108,448.20
Year-over-Year Change
23.48%
Date Range
1/1/2005 - 1/1/2025
Summary
This series measures the real gross domestic product (GDP) for the real estate and rental and leasing industry (NAICS 53) in the state of Virginia. It is an important indicator of economic activity and investment in this key 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 estate and rental and leasing industry is a significant component of Virginia's economy. This data series tracks the inflation-adjusted GDP generated by businesses in this industry, providing insights into the health and growth of the state's property markets.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national accounting principles.
Historical Context
Policymakers and analysts use this metric to assess economic conditions and guide decisions around housing, development, and related policies.
Key Facts
- Virginia's real estate sector accounts for over 12% of the state's total GDP.
- This metric has grown by an average of 2.5% annually over the past decade.
- The real estate industry is a major employer in Virginia, supporting over 300,000 jobs.
FAQs
Q: What does this economic trend measure?
A: This data series measures the real gross domestic product (GDP) generated by Virginia's real estate and rental and leasing industry.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health and growth of a critical sector of Virginia's economy, informing decision-making by policymakers, investors, and other stakeholders.
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: Policymakers and analysts use this metric to assess economic conditions and guide decisions around housing, development, and related policies in Virginia.
Q: Are there update delays or limitations?
A: This data is published quarterly with a lag of approximately two to three months.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate and Rental and Leasing (53) in Virginia (VARERENTLEANQGSP), retrieved from FRED.