Nationally, housing accounted for 15.31% of the real GDP in the second quarter of 2015, with home building and remodeling (residential fixed investment) contributing to 3.21 percentage points of that total. It is also worthwhile to know the importance of the construction sector to local economies.
The Bureau of Economic Analysis provides the geographic distribution of economic output due to construction sector, which includes both residential and nonresidential construction. Based on the most recent 2014 BEA data and NAHB estimates, construction made up 3.77% of economic output in 2014 as the housing market gradually recovers from the Great Recession, coupled with a steady increase in construction spending.
Read more at NAHB Eye on Housing
