Boston Real Estate Investors Association

Housing’s Share of the Economy Lower in Q2 2023

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NAHB eye on housing logoThe 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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