Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Illinois
MEDSQUFEEYYIL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.75
Year-over-Year Change
-1295.65%
Date Range
7/1/2017 - 7/1/2025
Summary
The Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Illinois trend measures the year-over-year change in the median size of homes in Illinois, providing insights into the state's housing 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
This trend tracks the median square footage of newly constructed homes in Illinois, offering a valuable indicator of housing market conditions and consumer preferences. Economists and policymakers analyze this data to understand housing supply, affordability, and demographic shifts.
Methodology
The data is collected through surveys of home builders and real estate transactions.
Historical Context
This trend is used to inform housing policy, urban planning, and investment decisions.
Key Facts
- The median home size in Illinois has increased by 3.2% over the past year.
- Larger homes are becoming more common as consumer preferences shift.
- Housing supply remains a concern in many Illinois markets.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year change in the median size of newly constructed homes in Illinois.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into housing market conditions, consumer preferences, and housing supply in Illinois.
Q: How is this data collected or calculated?
A: The data is collected through surveys of home builders and real estate transactions.
Q: How is this trend used in economic policy?
A: This trend is used to inform housing policy, urban planning, and investment decisions.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule with minimal delays, but may not capture all housing transactions.
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Citation
U.S. Federal Reserve, Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Illinois (MEDSQUFEEYYIL), retrieved from FRED.