Bradenton Real Estate

October 23, 2012

Housing Sector Still Contributing in a Big Way

impact of real estate industry and housing sector on the economy

If you’ve purchased a home recently or intend to purchase soon, you may not have thought about the fact that you’re part of a vast industry that has made, and continues to make, a significant contribution to the American economy.

Consider the following information from an April 2012 report by the National Association of Realtors® (NAR):

“Research has consistently shown the importance of the housing sector on the economy and the long-term social and financial benefits to individual homeowners. The economic benefits of the housing market and home ownership are immense and well documented. The housing sector (in the U.S.) directly accounted for approximately 15% of total economic activity in 2011.

Those statistics include such contributing factors as: mortgage lending; home construction; real estate agents’ commissions; lawyers’ fees, home appraisal costs, and moving costs. These sectors generate taxes and other forms of income for government at all levels.

Beyond that the housing industry also produces long reaching economic ripples that extend well beyond the home purchases and related expenses and expenditures.

Real estate transactions create jobs and, thereby, facilitate economic growth in ways that you might not even have considered.

For instance, a NAR study on the economic impact of real estate in the state of Oregon tells the tale:

For every home sold in Oregon in 2011, there were additional expenditures on consumer items, such as furniture, appliances and paint, totaling, on average, $5,234.

When you consider the number of homes sold across North America, you start to realize the numbers of manufacturers, suppliers of goods and services, trades people and sales forces that are dependent on the health and prosperity of the housing industry. The real estate industry remains, even under less than favorable circumstances, one to be reckoned with. Naysayers notwithstanding, it will continue to be so.

Even now with national housing markets in flux, home ownership remains ingrained in our very psyche. The American dream is alive and well and still very much a reality for many people.

If you’re considering or planning to buy or sell a home in the Bradenton, Sarasota, Manatee County, or Sarasota County areas of Florida

Please consider working with our team of hard working and experienced real estate professionals, The Serena Group.

Learn more about us here → MEET THE TEAM!

You may contact us directly, anytime, at →  941.757.5377.

Advertisements

Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.