Real Estate Is a Driving Force in the Economy

Real Estate Is a Driving Force in the Economy | MyKCM

Did you know as the economy recovers from this year’s health crisis? the housing market is playing a leading role in the turnaround being the Driving Force in the Economy

It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later.

Today’s high buyer demand combined with low housing inventory means we’re seeing home prices appreciate at an above-average pace.

This demand is being driven by those who want to take advantage of historically low mortgage rates.

Real Estate Is a Driving Force in the Economy | MyKCM

These factors are driving a positive impact on the economy as a whole. According to the National Association of Realtors (NAR), the real estate industry provided $3.7 billion dollars of economic impact to the country last year.

To break it down, in 2019, the average newly constructed home contributed just over $88,000 per build to local economies. Across the country, real estate clearly makes a significant impact.

There’s no doubt the growing economy is being fueled in part by the soaring housing market. Experts forecast this housing growth to carry into 2021, continuing to make a big impact on the economy next year as well.

Bottom Line

The American Dream of homeownership has continued to thrive in the midst of this year’s economic downturn, and “home” has taken on a new meaning for many of us during this time.  Best of all, the housing market is making a significant impact as the economy recovers.

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© 2021 · ADRIAN GARZA-DELGADO
TREC LIC. NO. 638099

© 2021 ADRIAN GARZA-DELGADO
TREC LIC. NO. 638099

19179 BLANCO RD. SUITE 105-445
SAN ANTONIO TX 78258 USA

19179 BLANCO RD. SUITE 105-445
SAN ANTONIO TX 78258 USA

Phone: 210-446-4455

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