Benefits of New Home Construction

• Residential construction has a positive, direct impact on the U.S. economy.

• For each new single-family home that is built, NAHB (National Association of Home Builders) estimates that three jobs are created.

• Jobs are generated in the industries where lumber, concrete, lighting fixtures, heating and cooling equipment, and other products that go into a home are produced. More jobs are created when real estate agents, lawyers and brokers provide services to home builders and home buyers, and none of them can be outsourced or relocated.

• About half of the three jobs created by building an average single-family home are in the construction industry. Other jobs are spread over other sectors, with manufacturing ranking second.

• And housing is “Made in America.” Most of the products used in home construction and remodeling are manufactured here in the United States.

A Generator of Tax Revenues that Builds Vibrant Communities

• A strong housing industry not only means more jobs, but more money in our communities.

• Home building increases the property tax base which generates revenue that supports local schools and communities.

• For each new single-family home that is built, NAHB estimates that it generates a total of $90,000 in government revenue — $67,000 in federal taxes and $23,000 in state and local taxes.

Housing Can Put America Back to Work

• The gap between current production and potential housing construction is roughly 1 million homes. That represents close to 3 million untapped American jobs.

• In normal times, housing accounts for more than 17 percent of Gross Domestic Product. Restoring the health of the housing industry is a crucial first step in putting America back to work.