Slow Single-family

Between 1975 and 2005, residential fixed investment (RFI) was about 4.7% of GDP. RFI is composed of single-family construction activity which averaged about 2.25% of GDP, broker commissions of about 0.75%, renovations and improvements of 1%, and multifamily of 0.4%. Today, all subsectors of RFI have largely returned to their historic levels with the sole exception of single-family activity, which is about 1.1% of GDP, about half its historic level.