New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Minnesota
MNBP1FH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,216.00
Year-over-Year Change
2.88%
Date Range
1/1/1988 - 6/1/2025
Summary
The 'New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Minnesota' trend tracks the number of new single-family housing units authorized by building permits in the state of Minnesota. This key metric provides insights into the health of the local housing market and construction industry.
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 measures the number of new private housing units in Minnesota that are authorized for construction through the issuance of building permits. It serves as an important leading indicator for the state's residential construction activity and broader economic conditions.
Methodology
The data is collected by the U.S. Census Bureau through monthly surveys of local permit-issuing offices.
Historical Context
Policymakers and analysts use this metric to assess the strength of the Minnesota housing sector and make informed decisions about economic and housing policies.
Key Facts
- Minnesota issued permits for over 15,000 new single-family homes in 2021.
- Building permits declined by 8% in Minnesota from 2020 to 2021.
- The state's single-family housing permit levels remain below pre-pandemic highs.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of new private housing units in Minnesota that are authorized for construction through the issuance of building permits.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the health of Minnesota's housing market and construction industry, which are important drivers of the state's broader economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through monthly surveys of local permit-issuing offices.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of the Minnesota housing sector and make informed decisions about economic and housing policies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but may be subject to revisions and delays in reporting from local permit-issuing offices.
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Citation
U.S. Federal Reserve, New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Minnesota (MNBP1FH), retrieved from FRED.