Why Buying or Selling a Home Helps the Economy and Your Community

If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life, but also your community.

The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact:

In Hawaii that number almost quadrupled !

As the visual shows, when a house is sold, it can make a big difference in the local economy. The impact comes largely from the workers required to build, update, and buy 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:

“The economic impact means 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, per NAHB research. . . . And one job for every $100,000 in remodeling spending.” 

Housing being a major job creator makes sense when you consider there are many different industries involved in the process. A recent article from Fortune notes housing activity could have a more robust impact than you think due to the many ways it’s tied to the economy:

“Housing has three direct linkages to economic activity (GDP): the construction of new homes, the remodeling of existing homes, and that of housing transactions. . . . consider the activity associated with home sales – think broker fees, lawyers, etc. – which are a sizable contributor to housing’s GDP footprint.” 

When you buy or sell a home, you work with a team of professionals, including contractors, specialists, lawyers, and city officials. Each person plays a role in making the transaction happen. 

So, when you make a move in the housing market, you're not just meeting your own needs, you're also making a positive impact on the community. Knowing this can give you a sense of empowerment as you make your decision this year.



Bottom Line

Each and every home sale is important for the local economy. If you’re ready to move, let’s connect. It won’t just change your life – it’ll also have a strong positive effect on the whole community.

Posted by

Lance Owens RB-24133
808.936.8383 

LUVA Real Estate | 75-240 Nani Kailua #8, Kailua Kona, HI 96740 
   REALTOR® / BROKER-IN-CHARGE • Residential homes, Condos, Land, Agricultural/ Equestrian/Large Acreage 
Hawaii Association of REALTORS® (HAR) 
    2025 President   2023/24 State RPAC Chair
    2023 HARLA Graduate 
National Association of REALTORS® (NAR) 
    2023-25 Director   2024-25 RPAC Participation Council   Safety Advisory Committee   Region 13 Leadership
NAR Designations
      AWHD (At Home With Diversity) | PSA ( Pricing Strategy Advisor) 
West Hawaii Association of REALTORS® (WHAR)
   2023 REALTOR® of the Year   2018/2022 President