How Buying or Selling a Home Benefits the Economy and Your Community Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert
How Buying or Selling a Home Benefits the Economy and Your Community Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert
If youāre thinking ofĀ buyingĀ orĀ sellingĀ a home, chances are youāre focusing on the many extraordinary ways itāll change your life. But do you know it has a large impact on your community too?
To measure that impact, theĀ National Association of RealtorsĀ (NAR) releases aĀ reportĀ each year to highlight 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:
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, there are multiple industries that play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and so many other professionals are all necessary at various stages during the transaction. Every individual you work with, like your trustedĀ real estate advisor, has a team ofĀ professionalsĀ involved behind the scenes.
That means when youĀ buyĀ orĀ sellĀ a home, youāre leaving a lasting impression on the community at large. Let the knowledge that youāre contributing to those around you while also meeting your own needs 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. Letās connect so you have a trusted real estate advisor on your side if youāre ready to get started. It wonāt just change your life; itāll make a powerful impact on your entire community.
Call Christophe Choo at (310) 777-6342 to tour your future home"HERE"
or click"HERE"to estimate your home value.