HOUSING INVESTMENT

Residential Fixed Investment and Gross Domestic Product*

Residential Fixed Investment (RFI) for the fourth quarter of 1998 was at a seasonally adjusted annual rate of $388.1 billion, 3 percent above the value from the third quarter of 1998 and 15 percent above the fourth quarter of 1997. As a percentage of the Gross Domestic Product, RFI was 4.5 percent, 0.1 percentage point above the previous quarter and 0.4 percentage point above a year ago. Over the year 1998, RFI was $369.4 billion, 13 percent above 1997. As a percentage of the Gross Domestic Product, RFI was 4.3 percent in 1998, 0.3 percentage point above the previous year.

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