The housing market is a major driver of the U.S. economy, but its impact is felt even on a local scale, the National Association of Realtors reports. Each median home sale in 2021 generated roughly $113,00 of economic impact, and states like Hawaii, the District of Columbia, and California saw even more substantial incomes generated from home sales at $306,130, $280,180, and $246,700, respectively.
On average, each home sale generates two jobs by state, though sales in high-cost regions like Hawaii can translate to enough income generated for 5 jobs.
The National Association of REALTORS® estimates that every home sale generates two jobs. Using that ratio, 1,000 home sales generate 2,000 jobs.
The ratio is derived from the economic impact of an existing home sale and the average amount of earnings. While each home sale contributes about $113,000 to the economy, U.S. workers earn an average of $57,300.1 Putting these figures together reveals that every home sale generates two jobs.
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