June has been designated as National Homeownership Month, and this topic is near to our hearts at Coldwell Banker Wallace because it’s such an important part of what we do. We’ve been guiding East Tennessee home since 1936 and it is our honor to play a role in this journey for our clients.
As we all experienced during the COVID-19 pandemic, home is an important place. More than ever before for many of us, home became our workplace, our children’s school, a safe haven and a place to live and relax.
According to the National Association of Home Builders (NAHB), most Americans consider homeownership to be the single best long-term investment. A primary residence was named as the largest asset among households, across age groups (from a 2019 study).
But we understand that home is so much more than a financial investment. Through all life’s ups and downs, owning a home can provide a sense of pride, accomplishment, social stability and peace of mind.
Nearly 20 percent of the economy in the U.S. is dependent on housing. Did you know the construction of 1,000 single-family homes creates 2,900 full-time jobs across all U.S. industries, as well as contributing $80 million in wages and more than $56 million in federal, state and local tax revenues and fees.
Check out these stats from NAR’s 2020 Profile of Home Buyers & Sellers:
Characteristics of Home Buyers
Characteristics of Homes Purchased
Home Buying and Real Estate Professionals
Originally published on Coldwell Banker Wallace
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