HOUSING INVESTMENT

Residential Fixed Investment and Gross Domestic Product*

Residential Fixed Investment (RFI) for the first quarter of 1998 was at a seasonally adjusted annual rate of $353.2 billion, 4 percent above the value from the fourth quarter of 1997 and 12 percent above the first quarter of 1997. As a percentage of the Gross Domestic Product (GDP), RFI was 4.2 percent, 0.1 percentage point above the previous quarter and 0.2 percentage points above a year ago. Over the year 1997, the revised figure for RFI was $327.2 billion, an increase of 1 percent over 1996. For the year RFI was 4.0 percent of GDP, unchanged from the previous year.

*Billions of dollars. Source: Bureau of Economic Analysis, Department of Commerce