New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Rhode Island
RIBP1FHSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
55.37
Year-over-Year Change
-26.78%
Date Range
1/1/1988 - 6/1/2025
Summary
This economic trend tracks the number of new private housing units authorized by building permits for 1-unit structures in Rhode Island. It provides insights into the state's residential construction activity and housing market conditions.
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 Private Housing Units Authorized by Building Permits: 1-Unit Structures for Rhode Island metric measures the number of new private housing units that have been granted permits for construction of single-family homes in the state. This data point is a key indicator of residential building activity and housing market trends.
Methodology
The data is collected by the U.S. Census Bureau through surveys of local building permit offices.
Historical Context
This economic indicator is closely monitored by policymakers, economists, and real estate analysts to gauge the health of the housing market and broader economic conditions.
Key Facts
- Rhode Island saw a total of 2,394 new private housing units authorized by building permits in 2021.
- The 2021 permit total represents a 4.8% increase from the previous year.
- Single-family homes account for the majority of new residential construction in Rhode Island.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of new private housing units authorized by building permits for 1-unit structures in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the health of Rhode Island's residential construction activity and housing market conditions, which are key indicators of broader economic performance.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Census Bureau through surveys of local building permit offices.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and real estate analysts closely monitor this indicator to gauge the state of the housing market and make informed decisions about economic policy and market interventions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay, so it may not reflect the most recent conditions in the housing market.
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Citation
U.S. Federal Reserve, New Private Housing Units Authorized by Building Permits: 1-Unit Structures for Rhode Island (RIBP1FHSA), retrieved from FRED.