New Houses Sold by Sales Price Between $800,000 and $999,999 in the Midwest Census Region
NHSMWSP80T99A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
100.00%
Date Range
1/1/2020 - 1/1/2024
Summary
The 'New Houses Sold by Sales Price Between $800,000 and $999,999 in the Midwest Census Region' metric tracks the number of new single-family homes sold in the Midwest U.S. with prices in the $800,000 to $999,999 range. This provides insight into the upper-end of the new home sales market in the Midwest.
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 metric is part of the U.S. Census Bureau's New Residential Sales data, which monitors the sales of newly constructed single-family homes across the country. The $800,000 to $999,999 price range represents the upper-middle to high-end of the new home market in the Midwest region.
Methodology
The data is collected through surveys of home builders and real estate agents.
Historical Context
This metric is used by economists, real estate analysts, and policymakers to assess trends in the Midwest's new home construction and sales activity.
Key Facts
- The Midwest region includes 12 states from Ohio to the Dakotas.
- New home sales in the $800k-$999k range made up 2.1% of total Midwest new home sales in 2022.
- Median sales price for new Midwest homes was $358,000 in 2022.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of newly constructed single-family homes sold in the Midwest U.S. with sales prices between $800,000 and $999,999.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the upper-end of the new home sales market in the Midwest, which is useful for economists, real estate professionals, and policymakers analyzing regional housing and consumer spending trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of home builders and real estate agents by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and analysts to assess activity and trends in the upper-end of the new home construction and sales market in the Midwest region.
Q: Are there update delays or limitations?
A: The data is published monthly by the Census Bureau, but may have a 1-2 month reporting lag.
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Citation
U.S. Census Bureau, New Houses Sold by Sales Price Between $800,000 and $999,999 in the Midwest Census Region (NHSMWSP80T99A), retrieved from FRED.