New Privately Owned Housing Completions Average Square Feet of Floor Area for One-Family Units in the Midwest Census Region
COMPSFLAA1FMWQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,285.00
Year-over-Year Change
-3.18%
Date Range
1/1/1999 - 1/1/2025
Summary
This economic trend measures the average square feet of floor area for one-family housing units completed in the Midwest census region of the United States. It provides insights into the size and characteristics of new single-family homes, which are an important indicator of housing supply and consumer preferences.
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
The New Privately Owned Housing Completions Average Square Feet of Floor Area for One-Family Units in the Midwest Census Region is a key metric used by economists, policymakers, and real estate analysts to understand the state of the housing market. It reflects the average size of newly constructed single-family homes, which can be influenced by factors like consumer demand, building costs, and zoning regulations.
Methodology
The data is collected by the U.S. Census Bureau through surveys of housing construction activity.
Historical Context
This metric helps inform discussions around housing affordability, urban planning, and economic growth.
Key Facts
- The average size of new one-family homes in the Midwest was 2,375 square feet in 2022.
- Home sizes have increased by over 50% since the 1970s, reflecting changing consumer preferences.
- Larger homes can impact housing affordability and contribute to urban sprawl.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average square feet of floor area for newly constructed one-family housing units in the Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size and characteristics of new single-family homes, which are an important indicator of housing supply, consumer preferences, and broader economic trends.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of housing construction activity.
Q: How is this trend used in economic policy?
A: This metric helps inform discussions around housing affordability, urban planning, and economic growth, as it reflects consumer demand and the supply of new housing units.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of 1-2 months between the reference period and the publication date.
Related Trends
New Privately Owned Housing Completions by Number of Units in Building, 20 or more Units in the Midwest Census Region
COMPDTA20UMMWQ
Expenditures: Personal Care Products and Services by Region: Residence in the Midwest Census Region
CXUPERSCARELB1103M
Quits: Total Nonfarm in Midwest Census Region
JTS00MWQUR
New Privately Owned Housing Completions by Number of Units in Building, 2 to 4 Units in the Midwest Census Region
COMPCB24UMMWQ
Other Financial Information: Mortgage Principal Paid on Owned Property by Region: Residence in the Midwest Census Region
CXUMRTPRINPLB1103M
Expenditures: Fish and Seafood by Region: Residence in the Midwest Census Region
CXUFISHSEALB1103M
Citation
U.S. Federal Reserve, New Privately Owned Housing Completions Average Square Feet of Floor Area for One-Family Units in the Midwest Census Region (COMPSFLAA1FMWQ), retrieved from FRED.