What Homeowners Are Buying In Addition To The Home

By Jann Swanson

Posted To: MND NewsWire

Unlike many other countries, American has a consumer driven economy. The National Association of Home Builders (NAHB), in a couple of recent entries in its Eye on Housing blog, highlights the role home buying plays in that dynamic. NAHB’s Natalia Siniavskaia used data from the Bureau of Labor Statistics’ most recent (2012-2014) Consumer Expenditure Survey (CES) to determine what a buyer spends on appliances, furniture, and remodeling in the first two years after they buy a home. Siniavskaia looked at buyers of both new and existing homes, and compared each for a non-moving homeowner. Buyers of new homes spend most , outspending non-movers by a factor of 2.6. Buyers of existing homes spend twice as much as non-moving owners. The typical new-home buyer spends an average of $4,500 more than a…(read more)

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