Wednesday, November 20, 2013

Spending on Home Improvements Continues to Exceed Spending on New Construction

In the third quarter of 2013 investment in home improvements was $178 billion, while construction spending on new single family and town home building was $172 billion.  Each were about one percent of GDP. Similarly, in the first three months of 2013 spending on home improvements was $161 billion, slightly above the $157 billion spent building new home building.

Normally new spending on new home building is double spending on home improvements. Worse, to date in 2013, new home building spending is flat.     
Elliot F. Eisenberg, Ph.D.
GraphsandLaughs, LLC

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