New Private Housing Units Authorized by Building Permits for Rhode Island
RIBPPRIV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
200.00
Year-over-Year Change
117.39%
Date Range
1/1/1988 - 6/1/2025
Summary
The 'New Private Housing Units Authorized by Building Permits for Rhode Island' trend measures the number of new private housing units authorized by building permits in the state of Rhode Island. This metric is a leading indicator of 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
This series tracks the number of building permits issued for new private residential construction projects in Rhode Island. It serves as an important leading indicator for the state's housing market and broader economic activity, as new construction often precedes other real estate and consumer spending measures.
Methodology
The data is collected by the U.S. Census Bureau through surveys of local building permit offices.
Historical Context
Policymakers and analysts monitor this trend to gauge the strength of the Rhode Island housing market and make informed decisions about economic and housing policy.
Key Facts
- Rhode Island issued over 4,000 new private housing permits in 2021.
- Building permits declined by 15% in Rhode Island between 2020 and 2021.
- Single-family home permits accounted for 60% of total permits in Rhode Island in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of new private housing units authorized by building permits in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric is an important leading indicator for the Rhode Island housing market and broader economic activity, as new construction often precedes other real estate and consumer spending measures.
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 and analysts monitor this trend to gauge the strength of the Rhode Island housing market and make informed decisions about economic and housing policy.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, New Private Housing Units Authorized by Building Permits for Rhode Island (RIBPPRIV), retrieved from FRED.