Nonfarm Residential Private Construction Expenditures for United States
A02217USA398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,419.00
Year-over-Year Change
383.95%
Date Range
1/1/1869 - 1/1/1949
Summary
This trend measures the value of new residential construction spending, excluding government projects. It's a key indicator of housing market activity and economic growth.
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
Nonfarm residential private construction expenditures track the dollar value of new home building and remodeling projects undertaken by private businesses and individuals, excluding government-funded projects. This metric provides insight into housing investment and construction industry health.
Methodology
The data is collected through surveys of construction companies and building permit records.
Historical Context
Policymakers and analysts monitor this series to assess the state of the housing market and broader economic conditions.
Key Facts
- Private residential construction spending reached a record high in 2021.
- The series experienced a sharp decline during the 2008-2009 recession.
- Residential investment typically accounts for around 4-6% of U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of new residential construction projects undertaken by private businesses and individuals, excluding government-funded projects.
Q: Why is this trend relevant for users or analysts?
A: Nonfarm residential private construction expenditures provide insight into housing market activity, which is a key driver of economic growth and a focus for policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction companies and building permit records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this series to assess the state of the housing market and broader economic conditions, as residential investment is a significant component of GDP.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Nonfarm Residential Private Construction Expenditures for United States (A02217USA398NNBR), retrieved from FRED.