How Buying a Home Grows Economy

Here's the skinny on a study prepared for the Canadian Real Estate Association by Altus Reid, released in April.

1) The resale housing industry generated an average of 202,750 jobs each year in the period from 2006 and 2008.

2) Each residential MLS® purchase produced an average $46,400 in additional consumer spending. This included the purchase of furniture and appliances, moving costs, renovations, services and taxes. The study excludes renovations by sellers in preparing homes for sale.

3) Last year 462,734 residential properties sold through the Multiple Listing Service®.

4) That's an average of $22.3 billion annually in economic spinoffs.

Points of Interest

From 2009 CREA Great Expectations Survey

--87% of Canadian Buyers said they start their home search online.

--65% of online respondents said they intended to buy in next 2 years.

--The most important attributes consumers want from a REALTOR® are trustworthiness and honesty (58.6%) and overall knowledge of the housing market (20.8%).

Niagara Sales are Up

In the Niagara Region, real estate in April showed a 27.06% increase in no of sales over March and a 13.33% increase in number of sales in March over February. (Source: Niagara Association of Realtors®)

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