As hard as it is to believe it is Labor Day weekend – the unofficial end to summer.
This Labor Day, AAA is predicting that 34.1 million Americans will hit the road and travel at least 50 miles this weekend, making it the busiest Labor Day in the last four years.
Part of the reason for this increase in travel is actually – housing.
According to the AAA study, consumer confidence is increasing as their home values increase. With the improvement in the housing market, consumers feel that their largest asset, their home, is more valuable. This increase in confidence leads to more spending and this weekend – more travel.
This is just another piece of evidence that points to the importance of the housing market in our overall economic recovery.
Will you be traveling this Labor Day?