According to a recent Consumer Expenditure Survey conducted by the U.S. Bureau of Labor Statistics and the National Association of Home Builders, home buying typically generates a wave of activity as people who purchase homes spend money on improving their homes, installing new appliances, buying furnishings and other items.
NAHB’s analysis shows that a home purchase triggers a series of additional spending on appliances, furnishings and remodeling activities that exceed typical spending levels of non-moving owners and persist for two years after moving. Specifically, the NAHB analysis shows that during the first two years after closing on the house, a typical buyer of a new single-family detached home tends to spend on average $7,400 more than a
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