Total Private Construction Spending: Residential in the United States
PRRESCONS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
883,089.00
Year-over-Year Change
-6.20%
Date Range
1/1/1993 - 6/1/2025
Summary
Total Private Construction Spending: Residential measures the total value of private residential construction projects in the United States. It serves as a key indicator of economic activity and housing market trends.
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 represents the total dollar value of residential construction projects initiated by private entities in the U.S. It includes single-family homes, multifamily structures, and improvements to existing residential properties. The data is used by economists and policymakers to assess the health of the housing sector and overall economic conditions.
Methodology
The data is collected through surveys of construction companies and building permit administrators by the U.S. Census Bureau.
Historical Context
Trends in private residential construction spending are closely watched by the Federal Reserve and other institutions for insights into consumer confidence, interest rates, and the broader economy.
Key Facts
- Private residential construction accounts for over 3% of U.S. GDP.
- Single-family homes make up the largest share of private residential spending.
- Residential construction saw a sharp decline during the 2008 financial crisis.
FAQs
Q: What does this economic trend measure?
A: The Total Private Construction Spending: Residential series measures the total dollar value of new private residential construction projects in the United States, including single-family homes, multifamily structures, and home improvements.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of housing market activity and overall economic conditions. Trends in private residential construction spending provide insights into consumer confidence, interest rates, and the broader state of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction companies and building permit administrators by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other economic institutions closely monitor private residential construction spending to assess the health of the housing sector and make informed policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Census Bureau, with a typical release lag of around one month.
Related Trends
Total Construction Spending: Lodging in the United States
TLLODGCONS
Total Construction Spending: Nonresidential in the United States
TLNRESCONS
Total Public Construction Spending: Highway and Street in the United States
PBHWYCONS
Total Public Construction Spending: Health Care in the United States
PBHLTHCONS
Total Private Construction Spending: Lodging in the United States
PLODGCONS
Total Private Construction Spending: Total Construction in the United States
TLPRVCONS
Citation
U.S. Federal Reserve, Total Private Construction Spending: Residential in the United States (PRRESCONS), retrieved from FRED.