How Buying or Selling a Home Helps Your Local Economy

How Buying or Selling a Home Helps Your Local Economy

When you buy or sell a home, you're not just making a personal or family decision; you're also significantly impacting your local economy. According to the National Association of Realtors (NAR), purchasing an existing home contributes more than $60,000 to the local economy. This impact more than doubles to over $125,000 when the home purchased is newly built. These transactions help stimulate local businesses and create jobs, showcasing the broader positive effects of real estate activities in your community.

Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), notes that the housing industry boosts local economies by creating jobs for a wide range of professionals involved in building, renovating, and selling homes.

“. . . housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year . . .”

When you buy or sell a house, you're not just making a personal decision; you're impacting your entire community. Each transaction involves a variety of professionals from contractors to real estate agents, supporting local jobs and businesses. This not only meets your needs but also contributes to the livelihood of your neighbors and the strength of your community.

Think of the ripple effect your purchase or sale has—from helping a local contractor keep their team employed to boosting a small business. This connection deepens the significance of your decision.

Bottom Line: Your move is more than a personal milestone; it's an investment in your community. If you're considering making a move, let’s connect and make a positive impact together.

What matters most to you in your home buying or selling journey this year?