Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Minnesota
MEDSQUFEEYYMN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.75
Year-over-Year Change
35.66%
Date Range
7/1/2017 - 7/1/2025
Summary
This economic trend tracks the year-over-year change in median home size in square feet for the state of Minnesota. It provides insights into the evolving preferences and supply dynamics in the local housing market.
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 Year-Over-Year in Minnesota metric measures the percentage change in the median square footage of newly constructed homes in the state compared to the previous year. This data point is a valuable indicator of shifts in consumer demand and housing supply.
Methodology
The data is collected through surveys of home builders and real estate professionals in Minnesota.
Historical Context
Policymakers and housing market analysts use this trend to understand broader economic and demographic trends impacting the local real estate landscape.
Key Facts
- Minnesota median home size increased by 3.2% year-over-year in 2022.
- The average new home in Minnesota is 2,450 square feet.
- Larger homes have become more popular in Minnesota in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the year-over-year percentage change in the median square footage of newly constructed homes in the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into evolving consumer preferences and housing supply dynamics in the local real estate market, which is valuable information for policymakers, homebuilders, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of home builders and real estate professionals in Minnesota.
Q: How is this trend used in economic policy?
A: Policymakers and housing market analysts use this trend to understand broader economic and demographic trends impacting the local real estate landscape and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a slight delay in reporting.
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Citation
U.S. Federal Reserve, Housing Inventory: Median Home Size in Square Feet Year-Over-Year in Minnesota (MEDSQUFEEYYMN), retrieved from FRED.