According to the NAHB’s Eye on Housing, the housing sector’s contribution to the economy reached 16.1% in the first quarter of 2024, exceeding 16% for the first time since 2022. This increase in housing’s share of GDP is attributed to residential fixed investment (RFI) and housing services. RFI includes home building, multifamily development, and remodeling, while housing services encompass gross rents, owners’ imputed rent, and utility payments. For more information, you can read the full report on the NAHB’s Eye on Housing website.
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Housing’s Share of GDP Surpasses 16% for 1st Time Since 2022