New Houses Sold by Sales Price Between $400,000 and $499,999 in the Midwest Census Region
NHSMWSP40T49AP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20.00
Year-over-Year Change
66.67%
Date Range
1/1/2020 - 1/1/2024
Summary
This economic trend tracks the number of new single-family houses sold in the Midwest census region with a sales price between $400,000 and $499,999. It provides insight into the Midwest housing market and consumer demand for mid-range priced new homes.
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 New Houses Sold by Sales Price Between $400,000 and $499,999 in the Midwest Census Region data series measures the monthly volume of new single-family home sales within a specific price range and geographic area. This metric is used by economists, housing analysts, and policymakers to assess regional housing market conditions and consumer preferences.
Methodology
The data is collected through a monthly survey of home builders and real estate agents by the U.S. Census Bureau.
Historical Context
This housing data informs economic and policy decisions related to the new home construction, real estate, and consumer spending sectors.
Key Facts
- The Midwest region includes 12 states, including Illinois, Indiana, and Ohio.
- New home sales comprise about 10-15% of total U.S. home sales annually.
- The $400,000-$499,999 price range accounts for 15-20% of new Midwest home sales.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the monthly volume of new single-family home sales in the Midwest census region with a sales price between $400,000 and $499,999.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into consumer demand and housing market conditions in the Midwest, which is useful for economic and policy decisions related to construction, real estate, and consumer spending.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of home builders and real estate agents by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this housing data to inform decisions and forecasts related to the new home construction, real estate, and consumer spending sectors.
Q: Are there update delays or limitations?
A: The data is published monthly with a 3-4 week delay, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, New Houses Sold by Sales Price Between $400,000 and $499,999 in the Midwest Census Region (NHSMWSP40T49AP), retrieved from FRED.