Value of New Residential Buildings Erected for Ohio
A02287US000OHA550NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67,799.00
Year-over-Year Change
126.58%
Date Range
1/1/1861 - 1/1/1914
Summary
The 'Value of New Residential Buildings Erected for Ohio' tracks the dollar value of new housing construction in the state of Ohio. This metric is a key indicator of economic activity and investment in the residential real estate sector.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the total value of new single-family and multi-family residential buildings constructed in Ohio. It is a measure of both construction activity and the cost of new housing supply. Economists and policymakers use this data to assess the health of the state's housing market and broader economic conditions.
Methodology
The U.S. Census Bureau collects this data through surveys of builders and construction firms.
Historical Context
This trend is closely monitored by housing market analysts, real estate developers, and state/local policymakers in Ohio.
Key Facts
- Ohio accounts for over 4% of U.S. housing construction activity.
- New residential investment reached a record high in Ohio in 2021.
- Housing construction is a major driver of economic growth in the state.
FAQs
Q: What does this economic trend measure?
A: This series tracks the total dollar value of new single-family and multi-family housing units constructed in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: The value of new residential construction is a key indicator of economic activity, investment, and the health of Ohio's housing market.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through surveys of builders and construction firms.
Q: How is this trend used in economic policy?
A: State and local policymakers in Ohio monitor this data to assess real estate market conditions and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Value of New Residential Buildings Erected for Ohio (A02287US000OHA550NNBR), retrieved from FRED.