New Private Housing Units Authorized by Building Permits for Minnesota
MNBPPRIVSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,294.17
Year-over-Year Change
-24.30%
Date Range
1/1/1988 - 6/1/2025
Summary
The 'New Private Housing Units Authorized by Building Permits for Minnesota' trend measures the number of new private housing units authorized by building permits in the state of Minnesota. This is a key indicator of residential construction activity and future housing supply.
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 tracks the number of new private housing units that have been approved for construction through the issuance of building permits in Minnesota. It provides insight into the state's real estate and construction sectors, which are important drivers of the broader economy.
Methodology
The data is collected and reported monthly by the U.S. Census Bureau based on surveys of local permit-issuing offices.
Historical Context
Policymakers and economists use this data to monitor housing market conditions and forecast economic growth.
Key Facts
- Minnesota building permits averaged 2,800 units per month in 2022.
- Permit authorizations peaked at 3,500 units in June 2022.
- The trend has fluctuated with changes in mortgage rates and economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of new private housing units in Minnesota that have been authorized for construction through the issuance of building permits.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into residential construction activity and future housing supply in Minnesota, which are important factors for real estate, finance, and economic policymaking.
Q: How is this data collected or calculated?
A: The data is collected monthly by the U.S. Census Bureau based on surveys of local permit-issuing offices.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this data to monitor housing market conditions and forecast economic growth in Minnesota and the broader region.
Q: Are there update delays or limitations?
A: The data is published with a 1-2 month lag, so it may not reflect the most recent construction activity. There can also be revisions to prior month's figures.
Related Trends
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MEDSQUFEEMN
Real Gross Domestic Product: All Industry Total in Minnesota
MNRQGSP
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MNGOVFEDMILNGSP
Real Gross Domestic Product: Durable Goods Manufacturing (321, 327-339) in Minnesota
MNDURMANRGSP
Real Median Household Income in Minnesota
MEHOINUSMNA672N
Median Household Income in Minnesota
MEHOINUSMNA646N
Citation
U.S. Federal Reserve, New Private Housing Units Authorized by Building Permits for Minnesota (MNBPPRIVSA), retrieved from FRED.