New Private Housing Units Authorized by Building Permits for Connecticut
CTBPPRIV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
356.00
Year-over-Year Change
8.54%
Date Range
1/1/1988 - 6/1/2025
Summary
The 'New Private Housing Units Authorized by Building Permits for Connecticut' measures the number of new private residential housing units authorized by building permits in the state of Connecticut. This metric is a leading indicator of residential construction 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 tracks the number of new private housing units for which building permits have been authorized in Connecticut. It provides insight into future residential construction trends and serves as an important indicator for policymakers and market analysts monitoring the health of the state's housing and construction sectors.
Methodology
The data is collected by the U.S. Census Bureau through surveys of local building permit offices.
Historical Context
This metric is closely watched by economists, real estate professionals, and government agencies to assess the strength of the Connecticut housing market and broader economic conditions.
Key Facts
- Connecticut issued over 11,000 building permits in 2021.
- Residential construction contributed over $12 billion to Connecticut's GDP in 2020.
- Building permit authorizations declined by 15% in Connecticut during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The 'New Private Housing Units Authorized by Building Permits for Connecticut' measures the number of new private residential housing units authorized by building permits in the state of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important leading indicator of residential construction activity and overall economic health in Connecticut. It provides insight into future housing market trends and is closely watched by economists, real estate professionals, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of local building permit offices.
Q: How is this trend used in economic policy?
A: This metric is used by government agencies, policymakers, and market analysts to assess the strength of the Connecticut housing market and broader economic conditions in the state.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Census Bureau, with some potential for slight delays in reporting.
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Citation
U.S. Federal Reserve, New Private Housing Units Authorized by Building Permits for Connecticut (CTBPPRIV), retrieved from FRED.