The National Association of Realtors (NAR) research team recently looked at studies done by the Census Bureau, Macroeconomic Advisors, Bureau of Economic Analysis, and the Joint Center for Housing Studies at Harvard. Upon reviewing the data, they determined the total economic impact of a typical home sale in each state.
Each home sale results in additional expenditures for remodeling, appliances, services, and new construction. This creates more jobs and stronger economy. In Florida, each home sale has a $46,000 impact.
What is the economic impact in your state?
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Michelle Burgos, REALTOR serving the Miami Dade County, and Broward County, FL Real Estate Market. Buy, Sell, Rent, Invest, or Short Sale… Michelle Can Help [www.MichelleCanHelp.com]