What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

What's my home worth?

Enter your information and I'll get right back to you with a free home estimate.
Find out!
check

Sent

Todd Patterson

Find Your Home

Todd Patterson

Coldwell Banker

The Community and Economic Impacts of a Home Sale

August 09, 2021


If you’re thinking of buying or selling a house, chances are you’re focusing on the many extraordinary ways it’ll change your life. 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.

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:The Community and Economic Impacts of a Home Sale | Keeping Current MattersTo dive a level deeper, NAR also provides a detailed look at how that varies state-by-state for newly-built homes (see map below):The Community and Economic Impacts of a Home Sale | Keeping Current MattersAs 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 contractors, specialists, lawyers, town and city officials, and so many other professionals. Every individual you work with, from your trusted real estate advisor to the architects who design new homes, has their own team of professionals involved behind the scenes.

Bottom Line

Homebuyers and sellers are economic drivers in their community and beyond. If you’re thinking of buying or selling, reach out to your trusted real estate advisor today to start the process. It won’t just change your life; it’ll make a powerful impact on your entire community.


Tags:

Featured Listings

listed
Luxury Ranch Style Home This single story ranch style home is located on over 33,500 square foot lot with asphalt frontage. There is a large covered entryway leading to the front doors. The home is very spacious.
$669,000
listed
3
beds
3
baths
3,010
Sq Ft
listed
Corinthian Subdivision JP Eliopulos Built. This single story home is located in a west Lancaster in a desirable area. The home has secure entryway. There is large ceramic tile flooring with vaulted ceilings. Open area floorplan.
$509,000
listed
3
beds
2
baths
2,274
Sq Ft
sold
KB Ironwood subdivision. Plan 3 This well located single story has upgrades. Four bedrooms and two bathrooms. From the entryway there is vinyl wood plank flooring leading into the great room with high ceilings, LED lighting and lots of window light.
$529,000
sold
4
beds
2
baths
1,886
Sq Ft
listed
This custom built two story pool home is located on a large lot in cul de sac street. Large open floor plan with a bedroom and bathroom down stairs. This well maintained home has been upgraded!
$699,000
listed
4
beds
3
baths
2,444
Sq Ft

Recent Posts