Gross Domestic Product: Real Estate (531) in Colorado
COREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
77,425.80
Year-over-Year Change
114.15%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real estate component of Colorado's Gross Domestic Product (GDP), providing insights into the state's property market and construction activity.
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 industry is a key driver of economic growth, as it encompasses construction, rental, and real estate services. Tracking this sector's contribution to Colorado's GDP offers valuable data for policymakers, investors, and analysts to understand the state's economic performance and outlook.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Historical Context
This trend is closely monitored by state and local government agencies, real estate developers, and economic forecasters to gauge the health of Colorado's property market.
Key Facts
- Colorado's real estate GDP reached $51.2 billion in 2021.
- The real estate industry accounts for over 12% of Colorado's total GDP.
- This trend has shown steady growth, increasing by 4.2% annually on average since 2010.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real estate component of Colorado's Gross Domestic Product (GDP), which includes construction, rental, and real estate services.
Q: Why is this trend relevant for users or analysts?
A: Tracking the real estate sector's contribution to Colorado's GDP provides valuable insights into the state's property market and construction activity, which are key drivers of economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their regional GDP estimates.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and local government agencies, real estate developers, and economic forecasters to gauge the health of Colorado's property market and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 quarter delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate (531) in Colorado (COREALNGSP), retrieved from FRED.