Thousands of Units, Annual
NHSMWSP15T19A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
-100.00%
Date Range
1/1/2002 - 1/1/2023
Summary
The 'Thousands of Units, Annual' economic trend measures the total annual production of new single-family homes in the United States. This metric is a key indicator of the health and trajectory of the U.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 economic series tracks the total number of new single-family homes completed and ready for occupancy over each calendar year. It is a widely followed indicator used by economists, policymakers, and real estate analysts to assess the strength of residential construction activity and broader trends in the housing sector.
Methodology
The data is collected and reported annually by the U.S. Census Bureau based on surveys of home builders and construction permits.
Historical Context
Policymakers and market participants closely monitor this metric to gauge the supply-demand dynamics and overall trajectory of the U.S. housing market.
Key Facts
- Annual new single-family home construction peaked at over 1.8 million units in 2005.
- New home construction fell sharply during the 2008-2009 recession, dropping below 500,000 units.
- As of 2022, annual new single-family home production has recovered to around 1.1 million units.
FAQs
Q: What does this economic trend measure?
A: The 'Thousands of Units, Annual' metric tracks the total annual production of new single-family homes in the United States.
Q: Why is this trend relevant for users or analysts?
A: This indicator is a closely watched gauge of housing market activity and the health of the residential construction sector, which is an important driver of broader economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by the U.S. Census Bureau based on surveys of home builders and construction permits.
Q: How is this trend used in economic policy?
A: Policymakers and market participants closely monitor this metric to assess the supply-demand dynamics and overall trajectory of the U.S. housing market, which informs decisions on monetary policy, housing policy, and investment strategies.
Q: Are there update delays or limitations?
A: This is an annual series, so there is a several-month delay between the end of the calendar year and the release of the final data. The data may also be subject to periodic revisions by the Census Bureau.
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Citation
U.S. Federal Reserve, Thousands of Units, Annual (NHSMWSP15T19A), retrieved from FRED.