New Privately Owned Housing Starts Average Square Feet of Floor Area for One-Family Units in the Midwest Census Region
HOUSTSFLAA1FMWQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,253.00
Year-over-Year Change
-8.38%
Date Range
1/1/1999 - 1/1/2025
Summary
This economic indicator measures the average square feet of floor area for new one-family housing units started in the Midwest Census Region. It provides insights into the size and characteristics of new residential construction in this major U.S. market.
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 Starts Average Square Feet of Floor Area for One-Family Units in the Midwest Census Region is a key metric used by economists and housing market analysts to assess trends in new home construction. It serves as a proxy for builder and consumer preferences regarding single-family home sizes in the Midwest.
Methodology
The data is collected through a monthly survey of homebuilders by the U.S. Census Bureau.
Historical Context
This indicator offers valuable context for understanding broader housing market dynamics and consumer demand in the Midwest region.
Key Facts
- The average square feet of new one-family homes in the Midwest was 2,443 in 2022.
- Home sizes in the Midwest tend to be larger than the national average.
- New home construction is a key driver of economic activity in the Midwest.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the average square feet of floor area for new one-family housing units started in the Midwest Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: The size of new homes constructed is an important metric for understanding consumer preferences, builder strategies, and broader housing market conditions in the Midwest.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of homebuilders by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this indicator to gauge housing demand, construction activity, and regional economic trends in the Midwest.
Q: Are there update delays or limitations?
A: The data is released monthly with a short lag, providing timely insights into the Midwest housing market.
Related Trends
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CXUOTHRMONYLB1103M
Consumer Unit Characteristics: Number of Consumer Units by Region: Residence in the Midwest Census Region
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Consumer Unit Characteristics: Number of Earners by Region: Residence in the Midwest Census Region
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New Privately Owned Housing Completions by Purpose of Construction, Built for Sale Total One-Family Units in the Midwest Census Region
COMPPFST1FMWQ
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Housing Inventory Estimate: Vacant Housing Units Held Off the Market and Vacant for Other Reasons in the Midwest Census Region
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Citation
U.S. Federal Reserve, New Privately Owned Housing Starts Average Square Feet of Floor Area for One-Family Units in the Midwest Census Region (HOUSTSFLAA1FMWQ), retrieved from FRED.