HOUSING INVESTMENT

Residential Fixed Investment and Gross Domestic Product*

Residential Fixed Investment (RFI) for the fourth quarter of 1997 was at a seasonally adjusted annual rate of $340.1 billion, 3 percent above the value from the third quarter of 1997 and 9 percent above the fourth quarter of 1996. As a percentage of the Gross Domestic Product, RFI was 4.1 percent, 0.1 percentage point above the previous quarter but unchanged from a year ago. Over the year 1997, residential fixed investment was $327.5 billion, an increase of 1 percent over 1996. For the year RFI was 4.1 percent of GDP, an increase of 0.1 percentage point over the previous year.

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