Gross Domestic Product: Real Estate (531) in North Carolina
NCREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
92,510.40
Year-over-Year Change
91.12%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Gross Domestic Product: Real Estate (531) in North Carolina' metric measures the output of the real estate industry in North Carolina's economy. This data point is crucial for understanding the state's economic performance and growth drivers.
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 series represents the real estate sector's contribution to North Carolina's gross domestic product (GDP). The real estate industry is a significant component of the state's economy, and this metric provides insight into its productivity and market conditions.
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 the health and trajectory of North Carolina's real estate market and its impact on the broader state economy.
Key Facts
- North Carolina's real estate industry accounts for over 10% of the state's GDP.
- The real estate sector has experienced steady growth in North Carolina over the past decade.
- This metric is a key indicator of the housing market and broader economic conditions in the state.
FAQs
Q: What does this economic trend measure?
A: This metric measures the output and contribution of the real estate industry to North Carolina's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the health and performance of North Carolina's real estate market, which is a significant driver of the state's overall 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 using established national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the impact of the real estate industry on North Carolina's economy and inform policy decisions related to housing, construction, and urban development.
Q: Are there update delays or limitations?
A: This data is typically updated quarterly by the U.S. Bureau of Economic Analysis, with occasional revisions to account for new information.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate (531) in North Carolina (NCREALNGSP), retrieved from FRED.