New Privately Owned Housing Completions in the United States, Average Square Feet Per Unit for Two or More Units
This dataset tracks new privately owned housing completions in the united states, average square feet per unit for two or more units over time.
Latest Value
1034.00
Year-over-Year Change
-4.96%
Date Range
1/1/1987 - 1/1/2025
Summary
This economic trend measures the average square footage of newly completed private housing units with two or more units, providing insight into the size and characteristics of the multi-unit residential construction market in the United States.
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 in the United States, Average Square Feet Per Unit for Two or More Units' series tracks the average square footage of newly constructed private housing units with two or more units, such as apartment buildings and condominiums. This metric is closely monitored by economists and policymakers to understand the evolution of the multi-unit residential construction industry.
Methodology
The data is collected by the U.S. Census Bureau through surveys of homebuilders and developers.
Historical Context
This trend is used to analyze housing supply, construction activity, and consumer preferences in the multi-unit residential real estate market.
Key Facts
- The average square footage of new multi-unit housing completions has declined since the 1970s.
- Smaller unit sizes can indicate a shift towards more affordable and accessible multi-family housing.
- Trends in this metric are closely watched by real estate developers and policymakers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average square footage of newly completed private housing units with two or more units, such as apartment buildings and condominiums.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and characteristics of the multi-unit residential construction market, which is important for understanding housing supply, consumer preferences, and construction industry dynamics.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of homebuilders and developers.
Q: How is this trend used in economic policy?
A: Trends in this metric are closely watched by real estate developers, investors, and policymakers to analyze the multi-unit residential construction market and inform housing supply and affordability policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be some delays in reporting due to the nature of the construction industry.
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Citation
U.S. Federal Reserve, New Privately Owned Housing Completions in the United States, Average Square Feet Per Unit for Two or More Units (COMPSFLAA2UMQ), retrieved from FRED.