Thursday, December 2, 2010

HUD's New User-Friendly Website Provides In-Depth Economic and Housing Data

Last week, HUD launched a new website that consolidates housing and economic data on regional, state, and metropolitan levels. Incorporating data from the Labor Department, the Census Bureau, and  Local and State governments, HUD’s user-friendly data tool serves as a valuable resource for communities. For example, using the interactive map, visitors can access county level data on housing market trends as well as current unemployment figures for any region in the United States.

According to the press release , the website currently features the following reports:
  • "Market at a Glance" reports contain economic and housing market data trends for every metropolitan area and county nationwide with employment data updated on a monthly basis.  Employment data is provided from the Bureau of Labor Statistics and housing data is derived from the Census Bureau’s American Community Survey. Some adjustments are made by HUD field economists based on regional information. The data are expected to be released on monthly basis for most of the metropolitan areas and counties. Eventually these reports will become "live" documents enabling field economists to include analysis as they complete more in-depth research for specific areas and monitor local conditions.
  • "Regional Housing Market Profiles" are based on the quarterly U.S. Housing Market Conditions report and include non-farm employment, population changes, and building activity. These regional profiles also focus on the most recent housing rental and sales activity for the past two years. In addition, approximately 10-12 individual metropolitan areas are specifically profiled each quarter to provide these same data down to the metro area level. 
  • "Regional Narratives" are broad overviews of economic and housing market trends within ten regions of the U.S. These narratives are based on information obtained by HUD economists from state and local governments, from housing industry sources, and from their ongoing investigations of housing market conditions 
  • "Comprehensive Housing Market Analysis" – Periodically, HUD field economists focus on particular metropolitan housing markets to produce counts and estimates of employment, population, households, and housing inventory. Each housing market analysis considers changes in the economic, demographic, and housing inventory characteristics during three periods: from 1990 to 2000; from 2000 to the as-of date of the analysis; and from the as-of date to up to up three years in the future.

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