Value of New Nonfarm Residential Buildings Erected for Ohio
A02288US000OHA550NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,748.00
Year-over-Year Change
109.33%
Date Range
1/1/1861 - 1/1/1914
Summary
The 'Value of New Nonfarm Residential Buildings Erected for Ohio' metric tracks the total inflation-adjusted dollar value of new residential construction in Ohio. This statistic is a key indicator of housing market activity and economic conditions in the state.
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 measures the total dollar value of new private residential building projects completed in Ohio, adjusted for inflation. It provides insight into the level of investment and construction activity in the state's housing sector, which is an important driver of broader economic growth.
Methodology
The data is collected through surveys of builders and developers by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this metric to assess the health of Ohio's housing market and its broader economic performance.
Key Facts
- Ohio's new residential construction value hit a peak of $29.3 billion in 2005.
- The metric dropped by over 60% during the 2008 financial crisis.
- Construction activity has steadily recovered since the Great Recession.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total dollar value of new private residential building projects completed in the state of Ohio, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: The value of new residential construction in Ohio is a key indicator of housing market activity and broader economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of builders and developers by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Ohio's housing market and its broader economic performance.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a typical 2-month delay.
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Citation
U.S. Federal Reserve, Value of New Nonfarm Residential Buildings Erected for Ohio (A02288US000OHA550NNBR), retrieved from FRED.