Chain-Type Quantity Index for Real GDP: Real Estate (531) in Maine
MEREALQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
139.73
Year-over-Year Change
25.63%
Date Range
1/1/1997 - 1/1/2023
Summary
The Chain-Type Quantity Index for Real GDP: Real Estate (531) in Maine measures the real output of the real estate industry in Maine, adjusted for inflation. This metric is important for economists and policymakers to assess the health and growth of 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
This index tracks the real, inflation-adjusted GDP contributed by the real estate industry (NAICS code 531) in the state of Maine. It is a key indicator of the economic performance and underlying demand trends within the Maine real estate market.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP-by-industry accounts.
Historical Context
This real estate industry output trend is closely watched by policymakers, investors, and analysts to gauge the strength of Maine's economy and real estate market conditions.
Key Facts
- Maine's real estate industry accounts for over 12% of the state's total GDP.
- The real estate index hit a peak in 2006 before declining during the housing crisis.
- Maine's real estate sector has seen steady growth since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: This index measures the real, inflation-adjusted output of Maine's real estate industry as part of the state's overall GDP.
Q: Why is this trend relevant for users or analysts?
A: This real estate industry metric is a key indicator of the health and performance of Maine's economy, providing insight into demand and investment trends in the state's property markets.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of their regional GDP-by-industry accounts.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and analysts closely monitor this real estate industry output trend to assess the strength of Maine's economy and make informed decisions about the state's property markets.
Q: Are there update delays or limitations?
A: The real estate GDP index data is published on a quarterly basis with a lag of several months, so there may be delays in accessing the most recent information.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Real Estate (531) in Maine (MEREALQGSP), retrieved from FRED.