New Houses Sold by Sales Price Between $500,000 and $599,999 in the Midwest Census Region
NHSMWSP50T59A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.00
Year-over-Year Change
80.00%
Date Range
1/1/2020 - 1/1/2024
Summary
This economic trend measures the number of new single-family houses sold in the Midwest Census Region with a sales price between $500,000 and $599,999. It provides insight into the strength of the upper-middle housing market in the Midwest.
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 Houses Sold by Sales Price Between $500,000 and $599,999 in the Midwest Census Region data series tracks a specific segment of the new home sales market. It is used by economists, policymakers, and real estate analysts to understand regional housing demand and affordability trends.
Methodology
The data is collected through a monthly survey of a sample of new home sales by the U.S. Census Bureau.
Historical Context
This metric is relevant for understanding housing market conditions and consumer confidence in the Midwest region.
Key Facts
- Midwest new home sales in the $500-599k range account for about 10% of total new home sales in the region.
- New home sales in this price segment peaked in 2021 and have declined since then.
- The Midwest has a higher share of new homes sold in this price range compared to other U.S. regions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of new single-family houses sold in the Midwest Census Region with a sales price between $500,000 and $599,999.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the upper-middle segment of the housing market in the Midwest, which is useful for understanding regional housing demand and affordability trends.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of a sample of new home sales by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and real estate analysts to monitor housing market conditions and consumer confidence in the Midwest region.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of several weeks, so it may not reflect the most recent market conditions.
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Citation
U.S. Federal Reserve, New Houses Sold by Sales Price Between $500,000 and $599,999 in the Midwest Census Region (NHSMWSP50T59A), retrieved from FRED.