If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a significant impact on your community too?
To measure that impact, the National Association of Realtors (NAR) releases a 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 professionals involved behind the scenes.
When you buy or sell a home, you’re leaving a lasting impression on the community at large. So let the knowledge that you’re 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.
Homebuyers and sellers are economic drivers in their community and beyond. Let’s connect, so you have a trusted real estate advisor on your side if you’re ready to get started. It won’t just change your life; it’ll make a powerful impact on your entire community.