Net Nonfarm Residential Construction for United States
A02209USA398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,827.00
Year-over-Year Change
-986.01%
Date Range
1/1/1889 - 1/1/1955
Summary
The Net Nonfarm Residential Construction metric tracks the net change in the total value of new residential construction projects in the United States. It serves as a key indicator of housing market activity and overall economic health.
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 measures the dollar value of new residential construction projects, minus the value of completed projects that are removed from the housing stock. It provides insight into the pace of housing development and investment, which influences consumer spending, job creation, and broader economic conditions.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of construction companies and permit issuance.
Historical Context
Policymakers and analysts closely monitor this metric to assess the state of the housing market and its impact on the broader economy.
Key Facts
- Net residential construction increased by $17.6 billion in 2021.
- The metric reached a low of -$51.5 billion during the 2008 financial crisis.
- New residential construction is a significant driver of economic growth.
FAQs
Q: What does this economic trend measure?
A: The Net Nonfarm Residential Construction metric tracks the net change in the total value of new residential construction projects in the United States.
Q: Why is this trend relevant for users or analysts?
A: This series provides insight into the pace of housing development and investment, which influences consumer spending, job creation, and broader economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of construction companies and permit issuance.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this metric to assess the state of the housing market and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Census Bureau with a typical delay of 1-2 months.
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Citation
U.S. Federal Reserve, Net Nonfarm Residential Construction for United States (A02209USA398NNBR), retrieved from FRED.