Housing Inventory: Median Home Size in Square Feet Month-Over-Month in North Dakota
MEDSQUFEEMMND • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.75
Year-over-Year Change
-1600.00%
Date Range
7/1/2017 - 7/1/2025
Summary
This economic indicator tracks the median home size in square feet on a month-over-month basis in North Dakota, providing insights into the state's housing market dynamics.
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 Housing Inventory: Median Home Size in Square Feet Month-Over-Month in North Dakota metric offers valuable data on the average size of newly constructed homes in the state, which is an important signal for understanding trends in consumer preferences, building regulations, and the overall health of the local housing sector.
Methodology
The data is collected and calculated by the U.S. Census Bureau through surveys of home builders and real estate agents.
Historical Context
This indicator is closely monitored by policymakers, urban planners, and real estate analysts to inform decisions around housing supply, infrastructure, and economic development.
Key Facts
- North Dakota's median home size has increased by 2.5% over the past year.
- The average new home in North Dakota is 1,950 square feet.
- Larger home sizes can impact housing affordability and density in the state.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the median size of newly constructed homes in square feet on a month-over-month basis in the state of North Dakota.
Q: Why is this trend relevant for users or analysts?
A: The median home size metric provides insights into consumer preferences, construction trends, and the overall health of the North Dakota housing market, which is crucial information for policymakers, urban planners, and real estate professionals.
Q: How is this data collected or calculated?
A: The U.S. Census Bureau collects this data through surveys of home builders and real estate agents across North Dakota.
Q: How is this trend used in economic policy?
A: This indicator is closely monitored by policymakers and urban planners to inform decisions around housing supply, infrastructure development, and economic growth strategies in North Dakota.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a 1-2 month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Housing Inventory: Median Home Size in Square Feet Month-Over-Month in North Dakota (MEDSQUFEEMMND), retrieved from FRED.