Housing’s Share of GDP Continues to Decline

Recent data crunched by the NAHB’s Eye on Housing show that housing’s share of America’s gross domestic product (GDP) continued a downward trend, which they say is more evidence of the the lack of housing supply caused and affected by ongoing housing affordability issues. According to their research, housing’s share of GDP fell to 14.6% with the home building and remodeling component making its sixth consecutive negative contribution to GDP growth, declining to 3.1% of GDP.  Housing-related activities contribute to GDP through residential fixed investment (home building, multifamily development, and remodeling) and housing services, (rent and utlities).

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