When you Buy a Home you are Contributing to the Economic Recovery

April 1, 2021

Close-Up Of Coins With Key Ring On Jigsaw Puzzle

Why the Housing Market Is a Powerful Economic Driver

With businesses starting to slowly open back up again in some parts of the country, it’s important to understand how housing can have a major impact on the recovery of the U.S. economy. As we’ve mentioned before, buying a home is a driving financial force in this process. Today, many analysts believe one of the first things we’ll be able to safely bring back is the home building sector, creating more jobs and impacting local neighborhoods in a big way. According to Robert Dietz in The Eye on Housing:

 “The pace of new home sales will post significant declines during the second quarter due to the impacts of higher unemployment and shutdown effects of much of the U.S. economy, including elements of the real estate sector in certain markets. However, given the momentum housing construction held at the start of 2020, the housing industry will help lead the economy in the eventual recovery.”

The National Association of Home Builders (NAHB) notes the impact new construction can have on the job market:

“Building 1,000 average single-family homes creates 2,900 full-time jobs and generates $110.96 million in taxes and fees for all levels of government to support police, firefighters and schools, according to NAHB’s National Impact of Home Building and Remodeling report.”

These employment opportunities, along with the home purchase, drive the economy in a major way. The National Association of Realtors (NAR) recently shared a report that notes the full economic impact of home sales. This report summarizes:

“The total economic impact of real estate related industries on the state economy, as well as the expenditures that result from a single home sale, including aspects like home construction costs, real estate brokerage, mortgage lending and title insurance.”

Here’s the breakdown of how the average home sale boosts the economy:Why the Housing Market Is a Powerful Economic Driver | MyKCMAs noted above in the circle on the right, the impact is almost double when you purchase new construction, given the sheer number of workers it requires to design, build, equip, and finalize the sale of the home. The NAHB paints a clear picture of these roles:

“The NAHB model shows that job creation through housing is broad-based. Building new homes and apartments generates jobs in industries that produce lumber, concrete, lighting fixtures, heating equipment and other products that go into a home remodeling project. Other jobs are generated in the process of transporting, storing and selling these products.
Additional jobs are generated for professionals such as architects, engineers, real estate agents, lawyers and accountants who provide services to home builders, home buyers and remodelers.”

The same NAR report also breaks down the average economic impact by state:Why the Housing Market Is a Powerful Economic Driver | MyKCMOn an emotional level, what’s most important for today’s consumers to feel confident about is the safety component that goes into the process. Mitigating the risk of essential personnel at this moment in time is more crucial than ever as we all aim to reduce the spread of the coronavirus. Fortunately, the NAHB has put immense effort into a plan that prioritizes the health and safety of home builders and contractors:

“This is why NAHB and construction industry partners have developed a Coronavirus Preparedness and Response Plan specifically tailored to construction job sites. The plan is customizable and covers areas that include manager and worker responsibilities, job site protective measures, cleaning and disinfecting, responding to exposure incidents, and OSHA record-keeping requirements.”

Bottom Line

Buying a home is a substantial economic driver today, and when new construction picks back up again, it will be an even stronger recovery force throughout the country. If you’re in a position to buy a home this year, you can have a significant impact on your local neighborhoods and safely make the move you’ve been waiting for. It’s a win-win.

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With over 40 years of experience in real estate, we have made a name in the industry as a trusted real estate company in Florida and the United States.
As a real estate attorney, I interact with hundreds of realtors. I wholdheartedly recommend David Worth. He is highly experienced, knowledgeable, and incredibly easy to work with. He goes above and beyond to negotiate for his clients and stays engaged throughout the transaction.
Jennifer Bondy
As a real estate attorney, I interact with hundreds of realtors. I wholdheartedly recommend David Worth. He is highly experienced, knowledgeable, and incredibly easy to work with. He goes above and beyond to negotiate for his clients and stays engaged throughout the transaction.
Jennifer Bondy
We are excited to share our exceptional experience with Mr. David Worth in purchasing our new home at the Falcon Trace subdivision, near Hunter’s Creek here in Orlando. From start to finish, David demonstrated unparalleled professionalism, expertise, and dedication. Navigating the home-buying process can be scary and bring a ton of uncertainty,...
Pepe Mayor
We are excited to share our exceptional experience with Mr. David Worth in purchasing our new home at the Falcon Trace subdivision, near Hunter’s Creek here in Orlando. From start to finish, David demonstrated unparalleled professionalism, expertise, and dedication. Navigating the home-buying process can be scary and bring a ton of uncertainty, but David made it seamless and enjoyable. His patience and understanding were remarkable as we explored numerous properties to find our perfect home. We physically looked at 12 homes, and had him research online at least 5 more. He never pressured us to make a hasty decision, instead providing insightful guidance and support every step of the way. What truly sets David apart is his communication skills. David was always in touch with us either via phone, text or email. On the negotiation process, David tirelessly advocated on our behalf, ensuring we received the best possible deal. His knowledge of the market and strategic approach saved us both time and money, making us feel confident and well-represented throughout the negotiation process. Due to other competing commitments, we could not attend important milestones/engagements, such as the inspection of the home, and the appraisal. David attended both gladly and supervised the entire process. We can’t thank him enough for that. We are now proud homeowners in Falcon Trace, and we owe it all to David. His commitment to our satisfaction and their genuine care for our needs exceeded all our expectations. We wholeheartedly recommend David to anyone looking to buy or sell a home.
Pepe Mayor
I am writing this review to express my deepest gratitude and commendation for the exceptional service provided by our realtor Mr. David Worth. David helped us sell our Sawgrass property in Orlando Florida. Selling a house can be a daunting process, and it was even more challenging with the various drawbacks we faced with the potential...
Marco Mayor
I am writing this review to express my deepest gratitude and commendation for the exceptional service provided by our realtor Mr. David Worth. David helped us sell our Sawgrass property in Orlando Florida. Selling a house can be a daunting process, and it was even more challenging with the various drawbacks we faced with the potential buyers (the house had to be listed not once, but twice). However, David navigated these obstacles with utmost professionalism, skill, and perseverance. From the outset, David demonstrated an impressive understanding of the market and provided invaluable insights that guided us in preparing and pricing our home. His marketing strategies and price point recommendation were on point. This ensured that our property received maximum exposure and attracted numerous potential buyers. What truly set David apart was their unwavering commitment and dedication throughout the selling process. He maintained constant communication, keeping us informed at every stage and promptly addressing any concerns or questions we had. David communicates via text, email, and most importantly phone calls. He was always available when we reached out to him. As mentioned above, despite the challenges posed by selling process, David remained patient, calm, and resourceful, always finding solutions and negotiating effectively on our behalf. His expertise and experience (20+ years in Real Estate) shone through in every interaction, and his positive attitude made the entire experience much more manageable. Thanks to David’s hard work and determination, we successfully sold our house at a price we were satisfied with. We wholeheartedly recommend David Worth to anyone looking to buy or sell a home. He’s a true professional and a pleasure to work with. Even after our home sell, I know I can call David for advice. We are immensely grateful for his outstanding service and support.
Marco Mayor
I'm thrilled to recommend David Worth for anything related to real estate. David really knows his stuff and runs his business with a lot of integrity and care. I've worked with him in several different settings, and he's always been super reliable and trustworthy. Whether you're collaborating on a project or just need solid advice, David is your go-to guy. ...
Daisy Ramirez
I'm thrilled to recommend David Worth for anything related to real estate. David really knows his stuff and runs his business with a lot of integrity and care. I've worked with him in several different settings, and he's always been super reliable and trustworthy. Whether you're collaborating on a project or just need solid advice, David is your go-to guy. He's dedicated, honest, and a real asset wherever he's involved.
Daisy Ramirez
"David Worth of Worth Real Estate is a standout in the industry. His deep market knowledge, meticulous attention to detail, and dedication make him an invaluable partner in any real estate endeavor. Worth Real Estate embodies excellence, making every transaction seamless and successful. Highly recommend David for unparalleled service."
Page Leindecker
"David Worth of Worth Real Estate is a standout in the industry. His deep market knowledge, meticulous attention to detail, and dedication make him an invaluable partner in any real estate endeavor. Worth Real Estate embodies excellence, making every transaction seamless and successful. Highly recommend David for unparalleled service."
Page Leindecker
David Worth is a dedicated, trustworthy, and caring professional. He truly values his clients and is genuinely committed to their benefit. I have unfortunately worked with a realtor in the past who made it clear the sale, not my best interests, were the priority. I can confidently say you will never have this experience when working with David... I highly ...
Thrive Counseling (Guidance with Garcia)
David Worth is a dedicated, trustworthy, and caring professional. He truly values his clients and is genuinely committed to their benefit. I have unfortunately worked with a realtor in the past who made it clear the sale, not my best interests, were the priority. I can confidently say you will never have this experience when working with David... I highly recommend David and Worth Real Estate Company!
Thrive Counseling (Guidance with Garcia)
I worked with David as a Loan Officer, and he was fantastic to work with throughout the entire process. Was always accessible to keep communication flowing through all parties involved, always involved in the process ensuring his client's best interest and also helping along the process with any knowledge he had to make sure the process was kept smooth for ...
Khayan Martinez
I worked with David as a Loan Officer, and he was fantastic to work with throughout the entire process. Was always accessible to keep communication flowing through all parties involved, always involved in the process ensuring his client's best interest and also helping along the process with any knowledge he had to make sure the process was kept smooth for everyone in the transaction. Definitely looking forward to working with him again, and wouldn't hesitate a second ti recommend him as a realtor to any of my clients.
Khayan Martinez
I had the pleasure of working alongside David in a collaborative effort. This partnership was a fantastic experience, even though it had MaNy obstacles, we worked together to get this deal done for our clients. His expertise, communication and teamwork are exceptional.
Xitlali Guerra
I had the pleasure of working alongside David in a collaborative effort. This partnership was a fantastic experience, even though it had MaNy obstacles, we worked together to get this deal done for our clients. His expertise, communication and teamwork are exceptional.
Xitlali Guerra
Dave was very knowledgeable about selling with all the steps involved. He went over and beyond to help us with all the special hurdles we had to jump thru on this. No doubt I would use his service again if or when needed. Thanks Jack
jack dominy
Dave was very knowledgeable about selling with all the steps involved. He went over and beyond to help us with all the special hurdles we had to jump thru on this. No doubt I would use his service again if or when needed. Thanks Jack
jack dominy
David Worth is not only a real estate agent but a dedicated and caring professional who genuinely wants the best for his clients. He provides an outstanding service and I highly recommend him to anyone looking to buy or sell their home. Thank you David
Karen Chavez
David Worth is not only a real estate agent but a dedicated and caring professional who genuinely wants the best for his clients. He provides an outstanding service and I highly recommend him to anyone looking to buy or sell their home. Thank you David
Karen Chavez

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