Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Virginia
VARERENTLEARQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
84,135.50
Year-over-Year Change
7.55%
Date Range
1/1/2005 - 1/1/2025
Summary
This economic trend measures the real gross domestic product (GDP) for the real estate and rental and leasing industry in the state of Virginia. It is an important indicator for understanding the health and performance of the state's housing and commercial property sectors.
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 and Rental and Leasing (53) in Virginia metric tracks the inflation-adjusted value added by this industry to the state's overall economic output. It provides insight into the dynamics of the Virginia real estate market and its contribution to the broader state economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using established national income and product accounting methods.
Historical Context
This trend is closely monitored by policymakers, real estate investors, and economic analysts to assess the strength of Virginia's housing and commercial property markets.
Key Facts
- Virginia's real estate and rental/leasing sector accounted for 13.8% of the state's GDP in 2021.
- This industry has seen steady growth, with real GDP increasing by 3.2% annually on average from 2010 to 2021.
- The COVID-19 pandemic had a modest impact, with real estate GDP declining by 0.7% in 2020 before rebounding in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) for the real estate and rental and leasing industry in the state of Virginia. It tracks the inflation-adjusted value added by this sector to the state's overall economic output.
Q: Why is this trend relevant for users or analysts?
A: This trend provides important insights into the health and performance of Virginia's housing and commercial property markets, which are key drivers of the state's economy. It is closely monitored by policymakers, real estate investors, and economic analysts.
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 income and product accounting methods.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and real estate professionals to assess the strength of Virginia's housing and commercial property markets and their contribution to the broader state economy. It informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is released quarterly by the U.S. Bureau of Economic Analysis, with a typical delay of 2-3 months. There may be revisions to previous estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Gross Domestic Product: Real Estate and Rental and Leasing (53) in Virginia (VARERENTLEARQGSP), retrieved from FRED.