How Buying or Selling a Home Benefits the Economy and Your Community

<article class="post-309262 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-309262"><span class="entry-date">May 25, 2022</span><div class="entry-header center-block text-center"><h1 class="entry-title">How Buying or Selling a Home Benefits the Economy and Your Community</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=How+Buying+or+Selling+a+Home+Benefits+the+Economy+and+Your+Community&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fhow-buying-or-selling-a-home-benefits-the-economy-and-your-community%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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<p><img alt="How Buying or Selling a Home Benefits the Economy and Your Community | Simplifying The Market" class="webfeedsFeaturedVisual wp-post-image" decoding="async" link_thumbnail="" loading="lazy" sizes="auto, (max-width: 549px) 100vw, 549px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19165140/20220525-KCM-Share-549×300.jpg" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19165140/20220525-KCM-Share-549×300.jpg 549w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19165140/20220525-KCM-Share.jpg 750w" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" width="358"/></p>
<p>If you’re thinking of <a href="https://www.simplifyingthemarket.com/2022/05/17/why-rising-mortgage-rates-push-buyers-off-the-fence/?a=712984-fa409495d5d70154d03a25e81e9540e2">buying</a> or <a href="https://www.simplifyingthemarket.com/2022/04/14/on-the-fence-of-whether-or-not-to-move-this-spring-consider-this/?a=712984-fa409495d5d70154d03a25e81e9540e2">selling</a> a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too?<span id="more-46539"></span></p>
<p>To measure that impact, the <em>National Association of Realtors</em> (NAR) releases a <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-state-economic-impact-report-us-04-28-2022.pdf">report</a> 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:</p>
<p><a href="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163751/20220525-MEM-Eng-1.png"><img alt="How Buying or Selling a Home Benefits the Economy and Your Community | Simplifying The Market" class="aligncenter wp-image-46543" decoding="async" height="488" loading="lazy" sizes="auto, (max-width: 650px) 100vw, 650px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163751/20220525-MEM-Eng-1.png" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163751/20220525-MEM-Eng-1.png 960w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163751/20220525-MEM-Eng-1-400×300.png 400w" width="650"/></a>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 (<em>see map below</em>):</p>
<p><a href="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163753/20220525-MEM-Eng-2.png"><img alt="How Buying or Selling a Home Benefits the Economy and Your Community | Simplifying The Market" class="aligncenter wp-image-46544" decoding="async" height="488" loading="lazy" sizes="auto, (max-width: 650px) 100vw, 650px" src="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163753/20220525-MEM-Eng-2.png" srcset="https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163753/20220525-MEM-Eng-2.png 960w, https://files.simplifyingthemarket.com/wp-content/uploads/2022/05/19163753/20220525-MEM-Eng-2-400×300.png 400w" width="650"/></a>You may be wondering: how can a single home sale have such a major effect on the economy?</p>
<p>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 trusted <a href="https://www.simplifyingthemarket.com/2022/04/12/why-a-real-estate-professional-is-key-when-selling-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2">real estate advisor</a>, has a team of <a href="https://www.simplifyingthemarket.com/2022/03/01/an-expert-advisor-will-give-you-the-best-advice-in-todays-market/?a=712984-fa409495d5d70154d03a25e81e9540e2">professionals</a> involved behind the scenes.</p>
<p>That means when you <a href="https://www.simplifyingthemarket.com/2022/05/11/are-there-more-homes-coming-to-the-market/?a=712984-fa409495d5d70154d03a25e81e9540e2">buy</a> or <a href="https://www.simplifyingthemarket.com/2022/05/04/your-house-could-be-closer-to-list-ready-than-you-think/?a=712984-fa409495d5d70154d03a25e81e9540e2">sell</a> a home, you’re leaving a lasting impression on the community at large. Let the knowledge that you’re 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.</p>
<h3><strong>Bottom Line</strong></h3>
<p>Homebuyers and sellers are economic drivers in their community and beyond. Let’s connect so you have a trusted real estate advisor on your side if you’re ready to get started. It won’t just change your life; it’ll make a powerful impact on your entire community.</p>
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