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Total impact one Fla. home sale has on the economy? $77,858

 

ORLANDO, Fla. – June 14, 2019 – When it comes to Florida's economy, real estate is a heavyweight. A recent updated analysis by the National Association of Realtors® (NAR) finds that money generated by the state's real estate industry makes up 21.9% of the gross state product.

Each home sale generates $21,483 for home-related businesses, such Realtors' commissions and moving services. And buyers spend an additional $4,243 on items for their new homes, such as appliances, furnishings, property alterations, etc.

Because money spent by one person goes into someone else's pocket, a single dollar can be spent over and over, called a multiplier. According to NAR, the total multiplier of a housing sale in Florida is $12,348 – and that doesn't include the total impact of new home construction, which is $39,783 per sale (51.1% of the real estate industry's total impact).

In total, the average impact of a Florida home sale is $77,858.

Nationally, the impact of the real estate business is lower for the U.S. economy – 17.4%. But the total economic impact per sale is $84,724.

According to NAR's numbers, each buyer spends $4,243 (same as Florida) on things related to the purchase, and the multiplier is $13,338. New home construction generates $43,600, or 51.5% of the industry's total impact.

© 2019 Florida Realtors®

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Presented by Dawn Deegan, Broker/Owner of Brilliant Move Realty. Dawn holds the designations of ABR (Accredited Buyer Representative), CRS (Certified Residential Specialist), GRI (Graduate Realtor® Institute), Short Sale Foreclosure Resource (SFR), and is a Certified Negotiation Expert (CNE). She is Quality Service Certified (QSC), holds the Transnational Referral Certification (TRC), and is Gold Key Certified. Dawn is devoted to providing only the best possible services and expertise to her Buyers and Sellers of residential Real Estate in the Greater Orlando area. This area includes Windermere, Orlando, Winter Park, Kissimmee and Davenport. Dawn’s emphasis is on achieving the best possible outcome for her client through thorough superior market knowledge, communications, negotiations and transactional expertise, resulting in a successful and quality experience for the Buyer or Seller of Real Estate. Contact Dawn Deegan at 407 488 8074 or at DawnDeegan@gmail.com Visit her at www.BrilliantMoveRealty.com