Buying or selling a home will change your life and the lives of the members of your family. And have you ever thought how it affects your community? What you may not realize is that decision impacts people’s lives far beyond your own. Home purchases and sales are significant drivers of economic activity. They have a major impact on your community and the entire U.S. economy via the multiple industries and professionals that take part in the process. So, how does buying or selling a home impact the community?
The National Association of Realtors (NAR) releases a report each year that highlights 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: 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): As you can see, a single home sale can have a massive effect on the overall economy. Ali Wolf, Chief Economist for Zonda, talks about this in a recent article, noting there’s a significant impact at each distinct phase of the transaction:
“The housing market contributes to the economy in four main stages: during planning and land development, throughout the actual construction of the home, at the point of sale, and upon moving in.”
When you buy or sell a home, you’re leaving a lasting impression on the community at large in addition to fulfilling your own needs. That’s because each stage of the process involves numerous lawyers, town and city officials, bankers, mortgage officers and title company professionals. Every individual you work with, from your trusted realtors Beth Brake or Mindy Short, to the architects who design new homes, to the people who build the homes, has their own team of professionals involved behind the scenes. This shows you how when you are buying or selling a home impact the community!
Homebuyers and sellers are economic drivers in their community and beyond. If you’re thinking of buying or selling, reach out to GoalLine Real Estate today to start the process. It won’t just change your life; it’ll make a powerful impact on your entire community.
Beth Brake and Mindy Short
Positively impacting your life as you move toward your dreams.