NAHB – New Homes Strengthen Economy Year Round
According to NAHB (National Association of Home Builders) Chairman Bob Nielsen, ”Home building is a key driver of the American economy. By generating economic activity including new income and jobs, purchases of goods and services, and revenue for local governments, housing—which has historically accounted for around 17 percent of the GDP—can put America back to work.”
The one-year local impacts of building 100 single-family homes in a typical metro area amount to $21.1 million in local income, $2.2 million in taxes and other local government revenue, and according to the economists at NAHB, 324 local jobs.
The housing industry celebrates New Homes Month in April, and home builders want Americans to understand the positive, direct impact residential construction has on the U.S. economy throughout the year.
For more information on this and other relevant topics visit the National Association of Home Builders
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