New Houses Sold by Sales Price Between $600,000 and $799,999 in the Midwest Census Region
NHSMWSP60T79A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.00
Year-over-Year Change
75.00%
Date Range
1/1/2020 - 1/1/2024
Summary
This economic trend measures the number of new single-family houses sold in the Midwest Census Region with a sales price between $600,000 and $799,999. It provides insights into the Midwest's higher-end new home market and construction sector activity.
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 $600,000 and $799,999 in the Midwest Census Region data series tracks the monthly sales of newly constructed single-family homes in this specific price range within the Midwest region. This metric is used by economists and policymakers to analyze trends in the higher-end segment of the new home market.
Methodology
The data is collected through surveys of homebuilders and developers.
Historical Context
This housing data is relevant for understanding the state of the Midwest's construction industry and consumer demand in the upper-middle price range of new single-family homes.
Key Facts
- The Midwest Census Region covers 12 states in the central United States.
- New home sales in the $600,000-$799,999 range made up 12.4% of total Midwest new home sales in 2022.
- Sales in this price tier have increased by 20% year-over-year as of the latest data.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the monthly number of new single-family houses sold in the Midwest Census Region with a sales price between $600,000 and $799,999.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the state of the higher-end new home market in the Midwest, which is useful for understanding construction sector activity and consumer demand in that price range.
Q: How is this data collected or calculated?
A: The data is collected through surveys of homebuilders and developers in the Midwest region.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this data to assess the health of the Midwest's construction industry and consumer spending on new higher-priced homes.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 4-6 week lag from the reference period.
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Citation
U.S. Federal Reserve, New Houses Sold by Sales Price Between $600,000 and $799,999 in the Midwest Census Region (NHSMWSP60T79A), retrieved from FRED.