New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Illinois
ILBP1FHSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,013.33
Year-over-Year Change
28.51%
Date Range
1/1/1988 - 6/1/2025
Summary
The 'New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Illinois' measures the number of new single-family home construction permits issued in the state of Illinois. This indicator provides insights into 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
This series tracks the number of building permits authorized for new single-family home construction in Illinois. It serves as an important leading indicator for the state's residential real estate sector and broader economic conditions.
Methodology
The data is collected by the U.S. Census Bureau through monthly surveys of local building permit offices.
Historical Context
Policymakers and analysts use this metric to assess the health of the Illinois housing market and make informed decisions about economic policy.
Key Facts
- Illinois issued over 20,000 single-family home building permits in 2022.
- Permit authorizations declined by 8% in Illinois from 2021 to 2022.
- The housing sector accounts for 5% of Illinois' gross state product.
FAQs
Q: What does this economic trend measure?
A: This series measures the number of new single-family home construction permits authorized in the state of Illinois. It serves as a leading indicator for the state's housing market activity.
Q: Why is this trend relevant for users or analysts?
A: The new housing permits metric is a key indicator of residential construction and investment, which are important drivers of Illinois' economic growth. Analysts and policymakers use this data to assess the health of the state's housing sector.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through monthly surveys of local building permit offices across Illinois.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this metric to understand housing market conditions and make informed decisions about monetary, fiscal, and housing policies that could impact Illinois' economy.
Q: Are there update delays or limitations?
A: The building permits data is published monthly with a lag of approximately 2 months. There may also be revisions to previously reported figures as additional local data becomes available.
Related Trends
Gross Domestic Product: Finance and Insurance (52) in Illinois
ILFININSNQGSP
Average Weekly Hours of Production Employees: Information in Illinois
SMU17000005000000007
All Employees: Professional and Business Services: Administrative and Support and Waste Management and Remediation Services in Illinois
SMS17000006056000001
Real Gross Domestic Product: Manufacturing (31-33) in Illinois
ILMANRGSP
Average Weekly Earnings of All Employees: Construction in Illinois
SMU17000002000000011A
Average Weekly Earnings of Production Employees: Financial Activities in Illinois
SMU17000005500000030
Citation
U.S. Federal Reserve, New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Illinois (ILBP1FHSA), retrieved from FRED.