How Buying or Selling Benefit the Economy and Your Community
Bydand Home Loans LLC
Bydand Home Loans LLC
Published on July 1, 2022
benefits

How Buying or Selling Benefit the Economy and Your Community

If you're thinking of buying or selling a home, chances are you're focusing on the many extraordinary ways it'll benefit your life. But do you know it has a large impact on your community too?

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To measure that impact, the National Association of Realtors (NAR) releases a report 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:

2006 was a different time, and today's housing market is nothing like the last one. In 2006 lending standards were much more relaxed with little evaluation done to measure how likely borrowers would be able pay back their loan in full; these days though- they're tight!
2006 was a different time, and today’s housing market is nothing like the last one. In 2006 lending standards were much more relaxed with little evaluation done to measure how likely borrowers would be able pay back their loan in full; these days though- they’re tight!

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):

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The Economic Impact of a Home Sale
Picture of the United States

You may be wondering: how can a single home sale have such a benefit on the economy?

For starters, there are multiple industries that play a role in the process. Every individual you work with, like your trusted real estate advisor, has a team of professionals involved behind the scenes.

That means when you buy or sell 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.

Bottom Line

Homebuyers and sellers are economic drivers in their community and beyond. Let's connect so you have a trusted mortgage 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. When you’re ready click the apply button below to get started on your home finance journey with us! 

 

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