Housing: An Investment in Your Future

Housing is, by far, the most important single asset on the household balance sheet. The market value of homes owned by U.S. households now stands at nearly $12 trillion. This marks an increase of 50 percent over the past 5 years, reflecting a large volume of housing production as well as solid rates of house price appreciation. It accounted for nearly 30 percent of total household assets at the end of last year. The production of housing and the value of housing services produced by the housing stock account for about 14% of the nation’s Gross National Product (GNP). In the past year while other sectors were struggling and even collapsing into recession, housing remained one of the few bright lights in the economy.

Housing's Direct Economic Impact

Residential construction stimulates the economy directly by generating jobs, wages and tax revenues and indirectly as the demand for goods and services created by the construction of new homes "ripples" through the economy.

Impact of Single-Family Construction The construction of 1,000 single-family homes generates 2,448 full-time jobs in construction and construction-related industries; $79.4 million in wages; and $42.5 million in combined federal, state and local revenues and fees.

Impact of Multifamily Construction The construction of 1,000 multifamily units generates 1,030 full-time jobs in construction and construction-related industries; $33.5 million in wages; and $17.8 million in combined federal, state and local tax revenues and fees.

Although it's difficult to gauge the indirect impact, the direct impact of residential construction on the economy is significant.

SOURCE: National Association of Home Builders

Local Housing Stats

Alachua County, Year To Date Stats: 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 (.PDF Format)
(documents received from the Alachua County Building Department)

For additional months or other information, Contact BANCF.

Other Useful Links

Eye On The Economy - Available on a biweekly basis, 'Eye on the Economy' is a new NAHB e-newsletter featuring economic, demographic, and government policy analysis. Read Eye on the Economy here, or subscribe to receive it free via e-mail.

• Eye on the Economy is written by David Seiders, Chief Economist and Senior Staff Vice President with the National Association of Home Builders. Seiders is a former economist with the Federal Reserver, who joined the NAHB in 1985. He holds a PhD from Penn State University.

U.S. Census Bureau Construction Statistics - The U.S. Census Bureau keeps track of different statistics regarding permits, housing units, residential sales, and many others on a monthly basis.

MapStats: Alachua County - This site has statistics on the population of Alachua County, economy stats, housing units, and many more.

UF Bureau of Economic & Business Research - BEBR produces Florida's official state and local population estimates and projections, economic analysis, transportation studies, and more.