If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll benefit and change your life. But did 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 highlighting 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 impacts 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?
For starters, multiple industries play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and other professionals are 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, you leave a lasting impression on the community. Knowing that you’re contributing to those around you while also meeting your own needs will 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. If you’re ready to get started, let’s connect with KM Realty Group LLC, so you have a trusted real estate advisor in the Chicagoland area and surrounding suburbs on your side. It won’t just change your life; it’ll make a powerful impact on your entire community.
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