How Buying or Selling a Home Benefits Your Community
If you’re thinking of buying or selling a house, it’s important to know it doesn’t just impact 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 residence changes ownership, it significantly bolsters the local economy by generating employment opportunities. Robert Dietz, the Chief Economist at the National Association of Home Builders (NAHB), elucidates the role of the housing industry in job creation within a community:
“Housing serves as a major catalyst for job creation. In fact, the construction of every single-family home results in enough economic activity to support three full-time jobs for a year.”
The extensive array of tasks involved in the housing sector underscores its capacity to generate employment. Consider the multitude of individuals engaged in the process of selling a house—city officials, contractors, legal professionals, real estate agents, specialists, and more. Each plays a vital role in facilitating transactions, thereby contributing significantly to the economic vitality of the community.
In essence, purchasing or selling a home translates to extending a helping hand to one’s neighbors. Consequently, when contemplating a relocation, one isn’t merely addressing personal needs but also making a positive impact on the community. Recognizing the ripple effect of one’s decision on the lives of those around them can instill a sense of empowerment in making such choices.
Bottom Line
Every time a home is sold, it really helps out the local economy. If you’re ready to move, let’s get in touch. It won’t just change your life—it’ll also do a lot of good for the whole community.
