Real Gross Domestic Product: Real Estate (531) in Maine
MEREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,258.20
Year-over-Year Change
25.62%
Date Range
1/1/1997 - 1/1/2023
Summary
The Real Gross Domestic Product: Real Estate (531) in Maine measures the inflation-adjusted output of the real estate industry in the state. This trend is an important indicator of economic activity and investment in the housing and property 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
The Real Gross Domestic Product: Real Estate (531) in Maine represents the real, inflation-adjusted value added by the real estate industry to the state's overall economic output. This metric is a key measure of the size and growth of the real estate sector within Maine's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using industry-specific price deflators.
Historical Context
Policymakers and analysts use this trend to gauge the health and trajectory of Maine's housing and real estate markets.
Key Facts
- Maine's real estate industry accounts for over 12% of the state's GDP.
- Real estate GDP in Maine has grown by an average of 3.2% annually since 2010.
- The COVID-19 pandemic led to a 6.4% decline in Maine's real estate GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The Real Gross Domestic Product: Real Estate (531) in Maine measures the inflation-adjusted economic output of Maine's real estate industry.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the health and performance of Maine's housing and property markets, which are important drivers of the state's overall economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using industry-specific price deflators to adjust for inflation.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the trajectory of Maine's real estate sector and inform decisions around housing, infrastructure, and economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately two months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in Maine (MEREALRGSP), retrieved from FRED.