If youāre thinking ofĀ buyingĀ orĀ selling a home, chances are youāre focusing on the many extraordinary ways itāll change your life. But do you know it has a significant impact on your community too?
To measure that impact, theĀ National Association of RealtorsĀ (NAR) releases aĀ report each year to highlight just how much economic activity a home sale generates. For example, the chart below shows how the sale of both a newly built home and an existing home impact the economy:
As the graphic shows, a single home sale can significantly affect the overall economy. However, to dive a level deeper, NAR also provides a detailed look at how that varies state-by-state for newly built homes (see map below):
You may be wondering: how can a single home sale have such a significant effect on the economy?
For starters, multiple industries play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and many other professionals are necessary at various stages during the transaction. Like your trusted real estate advisor, every individual you work with has a team of professionalsĀ involved behind the scenes.
When you buyĀ orĀ sell a home, youāre leaving a lasting impression on the community at large. So let the knowledge that youāre contributing to those around you while meeting your own needs help you feel even more empowered when you decide to make your move this year.
Bottom Line
Homebuyers and sellers are economic drivers in their community and beyond. Letās connect, so you have a trusted real estate advisor on your side if youāre ready to get started. It wonāt just change your life; itāll make a powerful impact on your entire community.