AS HOME SALES INCREASE, SO DOES THE ECONOMY!

Many people think buying and selling real estate only benefits the seller, the buyer, and the agent- that is incorrect according to SC Realtors Association. As stated in The Charleston Business Journal, “For every home that’s sold, there’s a nearly immediate and recurring impact of almost $60,000, Kremydas said. That includes attorneys, home inspectors, furniture sales, carpet suppliers, insurance agents and other professional and retail services benefiting from home sales.” Every home sale will produce at least six jobs. Mary Graham states, “Out of our total economy in the tri-county area, construction and real estate is 17% of the overall economy. I think that speaks to why it’s such a critical component.” Michael Scarafile goes into detail regarding home sales, “So, not only do we have the huge economic impact from resales—and everything from everyone who gets paid to the money that’s spent at Home Depot – all of those new construction jobs are actually a completely separate entity even though we combine them all together into residential sales.” So the overall impact according to Tyler Owens is, “The more homes sold, the more homes that are purchased, the greater the stability of the community.”