Boston Real Estate Investors Association

Housing’s Share of the Economy Lower in Q2 2023

The NAHB’s Eye on Housing says at the end of Q2 2023, housing’s share of the economy was 15.8%, while overall GDP increased for the 4th consecutive quarter – increasing at an annual rate of 2.4%.  They say housing-related activities contribute to the U.S. GDP in two basic ways.  First; through residential fixed investment (RFI) – effectively the measure of the home building, multifamily development, and remodeling contributions to GDP.  And, second; the measure of housing services, which includes gross rents (including utilities) paid by renters, and owners’ imputed rent (an estimate of how much it would cost to rent owner-occupied units) and utility payments.

Click here to read the full report at the NAHB’s Eye on Housing.


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