As a home buyer or seller, your thoughts are focused on your needs. However, it’s important to note that your market activity affects your community too.
In 2022, the National Association of REALTORS® released a report showing how much economic activity is generated by home sales. The data includes stats for income generated from real estate industries. It also shows expenditures related to home purchases and multiplier of housing-related expenses. Finally, it talks about new home construction. Clearly, just one home purchase or sale has a huge impact on the local community and economy at large.
This impact comes largely from the workers needed to build, update, and buy/sell houses. Robert Dietz, chief economist for the National Association of Home Builders, says, “The economic impact means housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year, per NAHB research…and one job for every $100,000 in remodeling spending.”
Of course the housing industry is a huge source of jobs! Brokers, lawyers, lenders — you name it. As Fortune explains, “Housing has three direct linkages to economic activity (GDP): the construction of new homes, the remodeling of existing homes, and that of housing transactions.”
Every time you buy or sell a home, you work with a team of professionals. Contractors, decorators, city officials — everyone plays a role. Each transaction requires a whole slew of people to make it happen.
One of the most important roles in a real estate transaction is that of an agent. At Surterre, agents go above and beyond what clients expect. For example, our agents are integral parts of their local communities. Some spend free time at Second Harvest Food Bank. Others donate to charitable causes. Still others volunteer at their children’s schools. Beyond a doubt, our agents’ have firmly planted roots in their Southern California home.
If you’ve been contemplating a move, now is the time! To maximize the dollar amount you can get for your current home, contact your local real estate specialist today at SurterreProperties.com.
