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

Homeownership not only changes the lives of buyers and sellers but also has an impact on our communities as a whole. When people buy or sell homes they are investing in themselves; however, when you purchase property it also becomes part of your community by extension!

The National Association of Realtors (NAR) has been releasing a report on how much economic activity is generated by home sales each year. The chart below shows how the sale of both a newly built home and an existing home impact the economy:

As 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):

You may be wondering: how can a single home sale have such a major effect on the economy?

The real estate industry is a complex one with many stakeholders involved. From contractors and specialists to lawyers, town officials, or even other professionals - every transaction requires assistance from multiple teams who work behind the scenes throughout your experience as an investor/buyer in this market!

When you buy or sell a home, your impact on the community as well as meeting your own needs will be greater than ever before. This feeling of empowerment can help make any decision that much easier for those who are still unsure about where they want to go next with their life!

Bottom Line

When you buy or sell a home, your impact on the community as well as meeting your own needs will be greater than ever before. This feeling of empowerment can help make any decision that much easier for those who are still unsure about where they want to go next with their life!