When you buy or sell a house, it’s easy to focus on how it affects you and your family. But what many overlook is that this decision creates a ripple effect, benefiting your entire community in ways you might not expect.
Each year, the National Association of Realtors (NAR) releases a report detailing the financial impact of buying and selling homes. The findings reveal that purchasing an existing home contributes more than $60K to the local economy, while buying a newly built home boosts the economy by over $125K (see visual below):
This is due to the numerous people involved in building, renovating, and selling homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry creates jobs within a community:
“. . . 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 stop and think about it, it makes sense. Every home sale involves a network of people, from contractors and city officials to real estate agents, lawyers, specialists, and beyond. Each person plays a key role in ensuring your deal goes smoothly.
In simple terms, when you buy or sell a home, you’re supporting your neighbors. Your decision to move doesn’t just fulfill your own needs; it helps their families, strengthens your town, and shapes the future of your community.
Picture walking through the front door of your next home, knowing that your choice helped a local contractor keep their team busy or supported a small business. Keep that feeling in mind as you make your decision this year.
Bottom Line
Moving isn’t just a personal milestone – it’s an investment in your community as well. If you’re ready to make a move, let’s connect. Your decision will have a positive impact on more people than you might realize.
What matters most to you as you prepare to buy or sell your home this year?
