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How Buying or Selling a Home Benefits the Economy and Your Community

How Buying or Selling a Home Benefits the Economy and Your Community | Simplifying The Market

If youre thinking of buying or selling a home, chances are youre focusing on the many extraordinary ways itll change your life. But do you know it has a large 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. The chart below shows how the sale of both a newly built home and an existing home impact the economy:

How Buying or Selling a Home Benefits the Economy and Your Community | Simplifying The MarketAs the visual shows, a single home sale can have a significant effect on the overall economy. 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):

How Buying or Selling a Home Benefits the Economy and Your Community | Simplifying The MarketYou may be wondering: how can a single home sale have such a major effect on the economy?

For starters, there are multiple industries that play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and so many other professionals are all necessary at various stages during the transaction. Every individual you work with, like your trusted real estate advisor, has a team of professionals involved behind the scenes.

That means when you buy or sell a home, youre leaving a lasting impression on the community at large. Let the knowledge that youre contributing to those around you while also 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. Lets connect so you have a trusted real estate advisor on your side if youre ready to get started. It wont just change your life; itll make a powerful impact on your entire community.

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