New Privately Owned Housing Completions Average Square Feet of Floor Area for Two or More Units in the Northeast Census Region
COMPSFLAA2UMNEQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
998.00
Year-over-Year Change
-12.61%
Date Range
1/1/1999 - 4/1/2025
Summary
This economic trend tracks the average square feet of floor area for new privately owned housing completions with two or more units in the Northeast census region. It provides insights into the size and characteristics of multi-unit residential construction in the northeastern United States.
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 Privately Owned Housing Completions Average Square Feet of Floor Area for Two or More Units in the Northeast Census Region measures the average size of newly constructed multi-family housing units in the northeastern states. This data is used by economists, policymakers, and real estate analysts to understand trends in the supply and composition of the regional housing market.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of housing construction activity.
Historical Context
This metric helps inform decisions around urban planning, housing affordability, and regional economic development.
Key Facts
- The average square footage peaked at 1,155 in Q2 2021.
- Multi-unit housing accounts for over 50% of new construction in the Northeast.
- Average unit size has declined by 6% since 2016.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the average square feet of floor area for new privately owned housing completions with two or more units in the Northeast census region.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the size and characteristics of multi-unit residential construction in the northeastern United States, which is useful for understanding regional housing market trends.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Census Bureau through surveys of housing construction activity.
Q: How is this trend used in economic policy?
A: This metric helps inform decisions around urban planning, housing affordability, and regional economic development.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-month lag.
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Citation
U.S. Federal Reserve, New Privately Owned Housing Completions Average Square Feet of Floor Area for Two or More Units in the Northeast Census Region (COMPSFLAA2UMNEQ), retrieved from FRED.