{"id":3509,"date":"2021-06-15T08:49:33","date_gmt":"2021-06-15T15:49:33","guid":{"rendered":"http:\/\/skyrisere.com\/listings\/?p=3509"},"modified":"2021-06-15T08:49:33","modified_gmt":"2021-06-15T15:49:33","slug":"what-is-the-strongest-tailwind-to-todays-recovering-economy","status":"publish","type":"post","link":"https:\/\/skyrisere.com\/listings\/2021\/06\/15\/what-is-the-strongest-tailwind-to-todays-recovering-economy\/","title":{"rendered":"What Is the Strongest Tailwind to Today\u2019s Recovering Economy?"},"content":{"rendered":"

Last year started off with a bang. Unemployment was under 4%<\/a> , forecasters were giddy with their projections for the economy, and the residential housing market had the strongest January and February activity in over a decade.<\/p>\n

Then came the announcement on March 11, 2020, from the World Health Organization declaring COVID-19 a worldwide pandemic<\/a> . Two days later, the White House declared it a national emergency. Businesses and schools were forced to close, shelter-in-place mandates were enacted, and the economy came to a screeching halt. As a result, unemployment in this country skyrocketed to 14.9%<\/a> .<\/p>\n

A year later, the economy is recovering, and the U.S. has regained more than half of the jobs<\/a> that were originally lost. However, some businesses are still closed, and many schools are still struggling to reopen. <\/p>\n

Despite the past and current challenges, there is one industry that\u2019s proven to be a tailwind helping to counter all of these headwinds to our economy. That industry is housing.<\/b> Remarkably, the residential real estate market (including existing homes and new construction) has flourished over the last twelve months. Sales<\/a> are up, prices<\/a> are appreciating, and more new homes are being built<\/a> . The housing market has been a pillar of strength in an otherwise slowly recovering economy.<\/p>\n

How does the real estate market help the economy?<\/h2>\n

At the beginning of the pandemic, the National Association of Realtors<\/i> (NAR) released a report<\/a> that explained:<\/p>\n

\n

\u201cReal estate has been, and remains, the foundation of wealth building for the middle class and a critical link in the flow of goods, services, and income for millions of Americans. Accounting for nearly 18% of the GDP, real estate is clearly a major driver of the U.S. economy.\u201d<\/i><\/p>\n<\/blockquote>\n

The report calculated the total economic impact of real estate-related industries on the economy as well as the expenditures that resulted from a single home sale. At a national level, their research revealed that a single newly constructed home had an economic impact of $88,416.<\/b><\/p>\n

Here\u2019s how it breaks down:<\/p>\n

\"Real<\/a><\/p>\n

The impact of an existing home sale is approximately $40,000.<\/p>\n

Real estate has done more for our economic wellbeing than virtually any other industry over the last year. It\u2019s been a beacon of light during a very challenging time in our nation\u2019s history.<\/p>\n

Bottom Line<\/h2>\n

Whether you\u2019re buying a newly constructed home or one that already exists, you\u2019re making a positive economic impact in your local community \u2013 and it\u2019s a step toward your homeownership goals as well. If you need experienced help in the Real Estate market, contact Skyrise Real Estate Group<\/i> today.<\/p>\n ","protected":false},"excerpt":{"rendered":"

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Then came the announcement on March 11, 2020, from the World Health Organization declaring COVID-19 a worldwide pandemic […]<\/p>\n","protected":false},"author":2,"featured_media":3511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","entry","has-media"],"yoast_head":"\nWhat Is the Strongest Tailwind to Today\u2019s Recovering Economy? - Skyrise Real Estate Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/skyrisere.com\/listings\/2021\/06\/15\/what-is-the-strongest-tailwind-to-todays-recovering-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Is the Strongest Tailwind to Today\u2019s Recovering Economy? - Skyrise Real Estate Group\" \/>\n<meta property=\"og:description\" content=\"Last year started off with a bang. 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