Measuring the Impact of the Housing Recovery on GDP
The housing market recovery continues to provide substantial support to U.S. economic growth. Housing-related activities, defined as private residential investment, personal expenditures on household durable goods and utilities, and the wealth-effect on consumption from home price appreciation, have positively contributed to real GDP growth for five consecutive quarters. Housing-related activities contributed more than half of the real GDP growth in the first quarter of 2013.
CONTRIBUTION TO U.S. REAL GDP GROWTH FROM HOUSING-RELATED ACTIVITIES