New Houses Sold by Sales Price Under $300,000 in the Northeast Census Region
NHSNESPU30A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
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 Northeastern United States with a sales price under $300,000. It provides insight into the affordable housing market in the region.
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 Under $300,000 in the Northeast Census Region indicator tracks the volume of lower-priced new home sales in the Northeast, a key metric for assessing housing affordability and demand trends in the region.
Methodology
The data is collected through a monthly survey of home builders by the U.S. Census Bureau.
Historical Context
This metric is closely monitored by policymakers, real estate analysts, and economists to gauge the health of the Northeast housing market.
Key Facts
- The Northeast region includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
- The median sales price for new homes in the Northeast was $497,700 in 2022.
- Affordable housing is a major policy concern in many Northeastern metro areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of new single-family houses sold in the Northeastern United States with a sales price under $300,000.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into housing affordability and demand trends in the Northeast region, which is crucial information for policymakers, real estate professionals, and economists.
Q: How is this data collected or calculated?
A: The data is collected through a monthly survey of home builders by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers to assess the state of the affordable housing market in the Northeast and inform policy decisions related to housing and urban development.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Census Bureau, with a typical release lag of several weeks. There may be seasonal adjustments and revisions to prior months' data.
Related Trends
Consumer Unit Characteristics: Percent Homeowner with Mortgage by Region: Residence in the Northeast Census Region
CXU980230LB1102M
Expenditures: Food Prepared on Out-of-Town Trips by Region: Residence in the Northeast Census Region
CXU190904LB1102M
Median Sales Price of Existing Homes in Northeast Census Region
HOSMEDUSNEM052N
New Privately-Owned Housing Units Completed: Single-Family Units in the Northeast Census Region
COMPUNE1USA
Housing Inventory Estimate: Occupied Housing Units in the Northeast Census Region
EOCCNEQ176N
Expenditures: Pets, Toys, and Playground Equipment by Region: Residence in the Northeast Census Region
CXUPETSPLAYLB1102M
Citation
U.S. Federal Reserve, New Houses Sold by Sales Price Under $300,000 in the Northeast Census Region (NHSNESPU30A), retrieved from FRED.