Thousands of Units, Annual
NHSMWSP30T49A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.00
Year-over-Year Change
362.50%
Date Range
1/1/2002 - 1/1/2023
Summary
The 'Thousands of Units, Annual' series measures the total annual new privately-owned housing units started in the United States. This metric is a key indicator of construction and housing market activity.
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 'Thousands of Units, Annual' trend represents the total number of new privately-owned housing units that began construction over the course of a calendar year in the United States. This data is used by economists and policymakers to assess the health and outlook of the residential construction industry.
Methodology
The data is collected by the U.S. Census Bureau through surveys of residential construction activity.
Historical Context
This housing starts data provides important insights into consumer demand, economic growth, and the effectiveness of housing policies.
Key Facts
- New housing starts peaked in 2005 at over 2 million units annually.
- The COVID-19 pandemic caused a temporary drop in housing starts in 2020.
- The South region accounts for the largest share of new housing construction in the U.S.
FAQs
Q: What does this economic trend measure?
A: The 'Thousands of Units, Annual' series tracks the total number of new privately-owned housing units that began construction over the course of a year in the United States.
Q: Why is this trend relevant for users or analysts?
A: This housing starts data is a key indicator of construction activity and consumer demand, providing important insights for economists, policymakers, and real estate market participants.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of residential construction activity.
Q: How is this trend used in economic policy?
A: Housing starts data is closely monitored by the Federal Reserve and other government agencies to assess the health of the housing market and broader economy, informing policy decisions.
Q: Are there update delays or limitations?
A: The housing starts data is reported monthly with a short lag, providing timely insight into construction trends.
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Citation
U.S. Federal Reserve, Thousands of Units, Annual (NHSMWSP30T49A), retrieved from FRED.