If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search.
Homeownership and the Local Economy: Why Every Sale Matters
Dated: March 22 2025
Views: 734
Whether you’re buying or selling a house in Midcoast Maine, here’s something to think about that most people don’t. Your decision doesn’t just impact your life and your family’s, it sparks a ripple effect that has a positive impact on your entire community.
Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes.
The data shows that if you buy an existing (previously lived-in) home, you're giving the local economy a boost of just over $60K. And if you buy a newly built home, that number goes up to over $125K (see visual below):
That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community:
“. . . housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year . . .”
When you think about it, it makes sense. Behind every home sale is a network of people involved, including contractors, city officials, real estate agents, lawyers, specialists, and more. Everyone has a job to do to help make sure your deal goes through.
Put simply, when you buy or sell a home, you’re helping out your neighbors. So, your decision to move doesn’t just meet your needs; it supports their families, strengthens your town, and shapes the future of your community.
Imagine walking through the front door of your next home in Maine, knowing your decision helped a local contractor keep their crew working or a small business thrive. Remember that feeling as you make your decision this year.
Bottom Line
Moving isn’t just a personal milestone – it's an investment in your community, too. If you’re ready to make a move, let’s connect. You’ll make a difference for more people than you know.
What’s most important to you as you prepare to buy or sell your house this year?
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. RE/MAX Riverside / Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. RE/MAX Riverside / Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
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