|Residential Housing as Percent of GDP, 2000-2012|
Housing had another strong quarter, growing at a 9.7 percent rate in the second quarter after a 20.5 percent growth rate in the first quarter. Residential investment remains badly depressed, accounting for less than 2.5 percent of GDP. This compares to a pre-housing bubble average of close to 3.5 percent. It is likely that housing will continue to grow over the next year, providing a modest boost to output.
For more, check out the latest GDP Byte.