If you’re thinking of buying or selling a house in Chicago, Illinois, it’s important to know that it impacts more than just you—it helps out the local economy and your community, too.
Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below):
When a house is sold, it boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to 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 . . .”
It makes sense that housing creates many jobs because the industry involves so many different kinds of work.
Think about all the people involved with selling a house—city officials, contractors, lawyers, real estate agents, specialists, etc. Everyone has a job to do to make your deal go through. So, each transaction is a big help to those who work and live in your community.
When you buy or sell a home, you’re helping out your neighbors. So, when you decide to move, you’re not just meeting your needs but also doing something good for your community. Knowing your move helps so many people around you and can give you a sense of empowerment as you decide this year.
Bottom Line
Every home sale helps the local economy. If you’re ready to move, contact top-rated real estate agents. It won’t just change your life but also do much good for the community.
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