STEPHEN SIMARD REALTOR
  • Home
  • About
    • Contact
    • Testimonials
    • Promo Videos
  • Home Search
    • Financing >
      • Free Home Inspection
    • Mortgage Calculator
  • Listings
    • Open Houses
    • New Listings
    • Sold Homes
    • Listings Blog
  • Home Value
  • Resources
    • Real Estate Advice
    • Granby CT >
      • Granby area photos
    • East Granby CT
    • Simsbury CT
    • Avon CT
    • Canton CT
    • New Hartford
    • Barkhamsted
    • Bloomfield
    • Suffield
    • West Hartford
    • Western MA >
      • Westfield MA
      • Southwick MA
  • New Listings
  • Join Real Broker LLC

Real Estate Is a Driving Force in the Economy

11/4/2020

0 Comments

 
Picture
As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround. 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. Housing, therefore, has thrived in an otherwise down year.

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. According to Freddie Mac:

“The record low mortgage rate environment is providing tangible support to the economy at a critical time, as housing continues to propel growth.”
​

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 (See map below):
Picture
In addition, last week, the Bureau of Economic Analysis announced the U.S. Gross Domestic Product increased at an annual rate of 33.1% in the 3rd quarter of this year, after decreasing by 31.4% in the second quarter. 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.

#NewConstruction #ForSellers #ForBuyers #SimardRealtyGroup #eXpRealty
0 Comments



Leave a Reply.

    Archives

    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    December 2015
    December 2013
    November 2013
    October 2013
    September 2013
    July 2013

    Categories

    All
    2014
    Best Real Estate Agent Granby
    Cma
    Farmington
    Farmington Valley
    Flat Fee Mls
    Forclosure
    For Sale By Owner
    Granby
    Home Buying
    Home Selling
    Home Sold
    How Much Is My Home Worth
    How Much Is My House Worth
    Listing Agent
    Market Anaylsis
    Property Value
    Short Sale
    Simsbury
    Stephen Simard
    Suffield
    West Hartford

    RSS Feed

The House Sold Name.​

Stephen Simard REALTOR

Phone: (860) 919-0991
Granby Office
16R East Granby Rd
Granby CT 06035
​——-
​
Broker address: Real Broker CT, LLC
​27 W. 24th St., Suite 407, New York, NY, 10010
​Lic in CT & MA

Contact Us

About  |  ​Testimonials  |  New Listings  |  Open Houses  |  Sold Home  |  Resources
Webdesign: PluginMuse
  • Home
  • About
    • Contact
    • Testimonials
    • Promo Videos
  • Home Search
    • Financing >
      • Free Home Inspection
    • Mortgage Calculator
  • Listings
    • Open Houses
    • New Listings
    • Sold Homes
    • Listings Blog
  • Home Value
  • Resources
    • Real Estate Advice
    • Granby CT >
      • Granby area photos
    • East Granby CT
    • Simsbury CT
    • Avon CT
    • Canton CT
    • New Hartford
    • Barkhamsted
    • Bloomfield
    • Suffield
    • West Hartford
    • Western MA >
      • Westfield MA
      • Southwick MA
  • New Listings
  • Join Real Broker LLC