According to the NAHB: “Building new homes and apartments generates jobs in industries that produce lumber, concrete, lighting fixtures, heating equipment and other products that go into a home remodeling project. Other jobs are generated in the process of transporting, storing and selling these products. Additional jobs are generated for professionals such as architects, engineers, real estate agents, lawyers and accountants who provide services to home builders, home buyers and remodelers.” The same NAR report also breaks down the average economic impact by state, as shown here: Average Economic Impact of One Home Sale by State
Bottom Line Buying a home is a substantial economic driver. As businesses continue to reopen under new safety guidelines, new construction will pick back up again too, powering the economy forward. If you’re able to buy a home this year, you can have a significant impact on your local neighborhoods and safely make the move you’ve been waiting for. It’s a win-win.
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