Real Gross Domestic Product: Real Estate (531) in North Dakota
NDREALRGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,555.00
Year-over-Year Change
15.04%
Date Range
1/1/1997 - 1/1/2023
Summary
This series measures the real gross domestic product (GDP) of the real estate industry in North Dakota. It is a key indicator of the economic activity and performance of this vital sector within the state.
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 North Dakota series tracks the inflation-adjusted value added by the real estate industry to the state's overall economic output. It provides insights into the health and growth of this industry, which is an important contributor to North Dakota's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of its GDP by industry accounts.
Historical Context
This metric is closely monitored by policymakers, investors, and industry analysts to assess the real estate market and broader economic conditions in North Dakota.
Key Facts
- North Dakota's real estate industry accounts for over 10% of the state's total GDP.
- The real estate sector has experienced steady growth in North Dakota over the past decade.
- Trends in this metric closely track broader economic conditions and investment in the state.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) gross domestic product (GDP) contribution of the real estate industry in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: The real estate industry is a significant driver of economic activity in North Dakota, so this metric provides important insights into the health and performance of this vital sector.
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 its GDP by industry accounts.
Q: How is this trend used in economic policy?
A: Policymakers, investors, and industry analysts closely monitor this metric to assess the real estate market and broader economic conditions in North Dakota.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis with a lag of several months, so there may be some delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate (531) in North Dakota (NDREALRGSP), retrieved from FRED.