Housing's Contribution to GDP Since 1980 as summarized by NAHB

Housing is an important source of economic growth.  As of the second quarter of 2013, housing’s share of gross domestic product (GDP) was 15.6%, with home building yielding 3.1 percentage points of that total.  RFI is effectively the measure of the home building and remodeling contribution to GDP.  Housing Services includes gross rents and utility payments.   Historically, RFI has averaged roughly 5% of GDP while housing services have averaged between 12% and 13%, for a combined 17% to 18% of GDP. These shares tend to vary over the business cycle.  Good to know!