In the national income accounts, the purchase of a new house counts as

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The purchase of a new house is considered an investment because it is an expenditure on a capital asset that is expected to provide a stream of benefits over time (i.e. housing services). It is not considered consumption expenditure because the house is not consumed immediately, but rather used over a period of time. It is also not a transfer because there is no transfer of ownership or funds between individuals, and it is not an addition to inventory because it is not a good that is being held by a seller for future sale.

In the National Income Accounts, the Purchase of a New