Gross Domestic Product: Real Estate (531) in North Dakota
NDREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,575.10
Year-over-Year Change
62.98%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the real estate component of Gross Domestic Product (GDP) in the state of North Dakota. It provides insight into the performance and contribution of the real estate sector to the state's overall economic 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 Gross Domestic Product: Real Estate (531) in North Dakota trend represents the value added by the real estate industry to the state's GDP. It is a key indicator of the real estate market's health and its role in the broader North Dakota economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Historical Context
This trend is closely monitored by economists, policymakers, and real estate market participants to understand the state's economic conditions and guide investment and policy decisions.
Key Facts
- North Dakota's real estate sector accounts for approximately 5% of the state's GDP.
- The real estate industry in North Dakota has experienced steady growth over the past decade.
- Fluctuations in this trend can signal changes in the state's housing market and overall economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real estate component of Gross Domestic Product (GDP) in the state of North Dakota, providing insight into the performance and contribution of the real estate sector to the state's overall economic activity.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists, policymakers, and real estate market participants as it provides insight into the health and importance of the real estate industry within the North Dakota economy, which can inform investment decisions and policy considerations.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA).
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers and economists to understand the state's economic conditions and guide investment and policy decisions related to the real estate market and broader economic development in North Dakota.
Q: Are there update delays or limitations?
A: The data is typically released by the BEA on a quarterly basis, with some potential for minor delays in availability.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Real Estate (531) in North Dakota (NDREALNGSP), retrieved from FRED.