Value of Permits for Additions and Alterations for Minneapolis, MN
A02063US33460A550NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,698.00
Year-over-Year Change
322.63%
Date Range
1/1/1887 - 1/1/1944
Summary
The Value of Permits for Additions and Alterations for Minneapolis, MN measures the dollar value of permits issued for construction projects involving modifications to existing buildings within the Minneapolis metropolitan area.
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 indicator provides insights into the level of investment and development activity in the local Minneapolis construction market. It is closely monitored by urban planners, real estate analysts, and policymakers to assess the health and trajectory of the regional housing and commercial real estate sectors.
Methodology
The data is collected by the U.S. Census Bureau through surveys of local permit-issuing authorities.
Historical Context
Trends in this metric can signal changes in consumer and business confidence, as well as the overall strength of the local economy.
Key Facts
- Minneapolis is one of the fastest-growing major cities in the Midwest.
- Permit values peaked in 2021 at over $700 million.
- The trend serves as a leading indicator of future building activity.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the total dollar value of permits issued for construction projects involving additions, renovations, and alterations to existing buildings in the Minneapolis, MN metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: Trends in Minneapolis construction permit values provide insights into the health and trajectory of the local real estate and development market, which is a key driver of the regional economy.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through surveys of local permit-issuing authorities in the Minneapolis metropolitan area.
Q: How is this trend used in economic policy?
A: Policymakers and urban planners monitor this metric to assess investment, development activity, and the overall strength of the Minneapolis housing and commercial real estate sectors.
Q: Are there update delays or limitations?
A: This data is released on a monthly basis, with some lag from the reference period, and may be subject to periodic revisions by the collecting agency.
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Citation
U.S. Federal Reserve, Value of Permits for Additions and Alterations for Minneapolis, MN (A02063US33460A550NNBR), retrieved from FRED.