The National Association of Home Builders (NAHB) Economics used data from the Bureau of Labor Statistics’ (BLS) Consumer Expenditure Survey to determine that a home purchase reliably causes additional spending in areas such as appliances, furnishings, and home remodeling. They also determined that the spending in this area by new home owners typically outpaces the spending of people who did not move, and lasts for about two years after the home purchase. The determination was based on the behavior of three different groups: people who bought new homes, people who bought old homes, and people who did not move.
Read the full article here: The Ripple Effect of Home Buying