The Impact of the Housing Market on Economy

The National Association of Realtors (NAR) viewed studies prepared by the Bureau of Economic Analysis, the Census Bureau, Macroeconomic Advisors and Joint Center for Housing Studies, finding the economic impact of a typical home sale in the United States is significant – around $56,000.

Sectors Impacted are

§Home construction

§Real estate brokerage

§Mortgage lending

§Title insurance

§Rental and Leasing

§Home appraisal

§Moving truck service

§Other related activities

As evident from these studies, a healthy housing market is essential to a vigorous US economy, people’s incomes, local and regional businesses success, and the country’s continued growth.

 

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