Tag Archive for ‘economic impact’

The Ripple Effect of Home Buying

Using the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), NAHB Economics research shows that a home purchase triggers additional spending on appliances, furnishings, and remodeling. Such spending typically exceeds that of non-moving home owners and persists for two years after moving. The NAHB analysis compares spending behavior among three groups of single-family detached home owners:… Read More ›

Local Economic Benefits of Remodeling

Home building and remodeling generate significant economic benefits. Since May is National Home Remodeling month, we thought we would look at the economic benefits remodeling activity has on the community where it takes place. According to NAHB estimates, for typical remodeling projects, every $10 million of total remodeling activity in an area generates: 78 local jobs $6.9 million local wage… Read More ›