Buying or selling a home is a big financial decision. And in today’s market, it can feel even bigger. With higher living costs, elevated mortgage rates, and ongoing affordability challenges, it’s natural to wonder whether now is the right time to make a move.
But if you do decide to go for it, whether you’re buying or selling, here’s something reassuring to hold onto. Not only does your move change your own life, but it also gives your whole community a boost.
Real estate is a huge part of the economy. In 2025, it added up to about $5.6 trillion, according to the National Association of Realtors (NAR). A good share of that comes from everyday people buying and selling homes, just like you.
Your Move Puts Real Money Into the Local Economy
Every sale sends money flowing through your area. NAR data shows that buying an existing home (one that’s already been lived in) adds about $64,000 to the local economy. Buy a newly built home, and that number climbs to more than $134,000 (see graph below):
In communities like Chicago and throughout Chicagoland, every home sale supports a network of experienced real estate professionals, including real estate agents, lenders, inspectors, title companies, contractors, movers, landscapers, and small businesses.
Over half of that comes from the work of building the home itself. The rest flows to real estate services, like agent and lender fees, plus what you spend settling in afterward, on things like furniture and remodeling.
And the money doesn’t stop there. As local businesses earn it, they spend it again in your area, so a single sale ripples further than the sale price alone.
One Sale Keeps a Lot of People Working
Behind every sale is a whole network of people doing their jobs. Contractors, lenders, inspectors, movers, and more. When you buy or sell, you help keep them busy. Lawrence Yun, Chief Economist at NAR, puts it this way:
“Increased home sales mean more economic activity — lawn care, furniture purchases, moving services, mortgage originations and other related business activities all get a boost.”
So, your move supports your neighbors’ livelihoods, too. The deal that gets you into your next home also helps a local crew make payroll. In a year when every paycheck counts, that’s no small thing.
Your Local Impact May Be Even Bigger
What your move financially adds to your community depends a lot on where you live. To help you see how it can vary, here’s a look at the impact of a typical newly built home sale by state.
The national average for a newly built home is about $134,000, but some states see far more (see map below):
In California, a single sale adds more than $300,000 to the local economy. In Hawaii, it’s over $350,000. Even in the most affordable states, the number lands in the tens of thousands.
Want to know how buying or selling a home could impact your local community? An experienced local real estate professional can help you understand what those numbers look like where you live.
What This Means for Buyers and Sellers
Whether you’re buying your first home, selling your current property, or simply exploring your options, understanding your local market is key. An experienced Chicago real estate professional can help you navigate current market conditions, answer your questions, and create a strategy that fits your goals.
If you’re planning a move in Chicago or the surrounding suburbs, we’re here to help every step of the way.
Key Takeaways
- Buying or selling a home supports your local economy.
- Every home sale helps create jobs for dozens of local professionals.
- Real estate contributes trillions of dollars to the U.S. economy each year.
- The economic impact of a home sale varies by location but benefits communities nationwide.
- Working with a local real estate expert helps you make informed decisions.