Housing’s Share of GDP Hits 13-Year High
The NAHB’s Eye on Housing is reporting that Housing’s contribution to America’s GDP hit its highest level since Q3 2007, increasing to 16.2% in Q2 2020. In fact, they say that “housing will lead the economic recovery” and pointed out that housing services alone represented 12.9% of the U.S. economy or $ 2.2 trillion on seasonally adjusted annual basis. Indeed…
“Due to low mortgage interest rates, a renewed focus on the importance of home, and a lack of for-sale inventory, housing data has been a relative bright spot as the overall economy struggles to establish a rebound.”
Click here to read the full report at the NAHB’s Eye on Housing.
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