[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fflm90m266nq2":3,"$ffeh0925h8cuz":42,"$f2emv3tus0uf1":46,"$fbwk2pqjjqsc7":50},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":29,"updatedAt":29},1842,"what-is-the-strongest-tailwind-to-todays-recovering-economy","What Is the Strongest Tailwind to Today’s Recovering Economy?","Last year started off with a bang. Unemployment was under \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fcharts\u002Femployment-situation\u002Fcivilian-unemployment-rate.htm\">4%\u003C\u002Fa>, 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.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F16105354\u002F20210317-KCM-Share.jpg","Last year started off with a bang. Unemployment was under \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fcharts\u002Femployment-situation\u002Fcivilian-unemployment-rate.htm\">4%\u003C\u002Fa>, 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.\u003C!--more-->\r\n\r\nThen came the announcement on March 11, 2020, from the World Health Organization declaring COVID-19 a worldwide \u003Ca href=\"https:\u002F\u002Fwww.ajmc.com\u002Fview\u002Fa-timeline-of-covid19-developments-in-2020\">pandemic\u003C\u002Fa>. 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 \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fopub\u002Fted\u002F2020\u002Funemployment-rate-rises-to-record-high-14-point-7-percent-in-april-2020.htm?view_full\">14.9%\u003C\u002Fa>.\r\n\r\nA year later, the economy is recovering, and the U.S. has regained more than half of the \u003Ca href=\"https:\u002F\u002Fwww.bls.gov\u002Fopub\u002Fted\u002F2021\u002Fnumber-of-involuntary-part-time-workers-in-february-2021-down-from-record-highs.htm\">jobs\u003C\u002Fa> that were originally lost. However, some businesses are still closed, and many schools are still struggling to reopen. Despite the past and current challenges, there is one industry that’s proven to be a tailwind helping to counter all of these headwinds to our economy. \u003Cstrong>That industry is housing.\u003C\u002Fstrong> Remarkably, the residential real estate market (including existing homes and new construction) has flourished over the last twelve months. \u003Ca href=\"https:\u002F\u002Fwww.cnbc.com\u002F2021\u002F01\u002F22\u002Fexisting-home-sales-in-2020-were-highest-since-in-over-a-decade.html\">Sales\u003C\u002Fa> are up, \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002F2021\u002F03\u002F02\u002Fhome-prices-what-happened-in-2020-what-will-happen-this-year\u002F\">prices\u003C\u002Fa> are appreciating, and more new homes are being \u003Ca href=\"https:\u002F\u002Fwww.census.gov\u002Fconstruction\u002Fnrs\u002Fpdf\u002Fnewressales.pdf\">built\u003C\u002Fa>. The housing market has been a pillar of strength in an otherwise slowly recovering economy.\r\n\u003Ch4>\u003Cstrong>How does the real estate market help the economy?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nAt the beginning of the pandemic, the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR) released a \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Fblogs\u002Feconomists-outlook\u002Fevery-home-sale-adds-more-than-88000-to-the-economy-how-do-home-sales-affect-the-economy-in-your\">report\u003C\u002Fa> that explained:\r\n\u003Cblockquote>\u003Cem>“Real 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.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nThe 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 \u003Cstrong>a single newly constructed home had an economic impact of $88,416.\u003C\u002Fstrong>\r\n\r\nHere’s how it breaks down:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210317-MEM-Eng-1.jpg\">\u003Cimg class=\"aligncenter wp-image-44033\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210317-MEM-Eng-1.jpg\" alt=\"What Is the Strongest Tailwind to Today’s Recovering Economy? | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>The map below shows the impact by \u003Ca href=\"https:\u002F\u002Fwww.nar.realtor\u002Freports\u002Fstate-by-state-economic-impact-of-real-estate-activity\">state\u003C\u002Fa>:\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210317-MEM-Eng-2.png\">\u003Cimg class=\"aligncenter wp-image-44032\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210317-MEM-Eng-2.png\" alt=\"What Is the Strongest Tailwind to Today’s Recovering Economy? | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>The impact of an existing home sale is approximately $40,000.\r\n\r\nReal estate has done more for our economic wellbeing than virtually any other industry over the last year. It’s been a beacon of light during a very challenging time in our nation’s history.\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWhether you’re buying a newly constructed home or one that already exists, you’re making a positive economic impact in your local community – and it’s a step toward your homeownership goals as well.","\r\nWhether you’re buying a newly constructed home or one that already exists, you’re making a positive economic impact in your local community – and it’s a step toward your homeownership goals as well.","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F20210317-MEM-Eng-1.jpg",false,[17,21,25],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers",{"id":26,"name":27,"slug":28},45,"New Construction","new-construction","2021-03-17T10:00:12Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":15},1841,"what-is-the-1-financial-benefit-of-homeownership","What Is the #1 Financial Benefit of Homeownership?","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F15121435\u002F20210316-KCM-Share.jpg","2021-03-16T10:00:48Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":15},1843,"to-renovate-or-not-to-renovate-before-you-sell","To Renovate or Not To Renovate Before You Sell","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2021\u002F03\u002F17155905\u002F20210318-KCM-Share.jpg","2021-03-18T10:00:33Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":47,"open":48,"shareSpread":49},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[51,55,56,57,61,65,69,73,77,81,85,89,93,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154,158],{"id":52,"name":53,"slug":54},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":58,"name":59,"slug":60},7,"Foreclosures","foreclosures",{"id":62,"name":63,"slug":64},8,"Infographics","infographics",{"id":66,"name":67,"slug":68},9,"Home Prices","home-prices",{"id":70,"name":71,"slug":72},11,"First-Time Buyers","first-time-buyers",{"id":74,"name":75,"slug":76},34,"Senior Market","senior-market",{"id":78,"name":79,"slug":80},35,"Mortgage Rates","mortgage-rates",{"id":82,"name":83,"slug":84},38,"Move-Up","move-up",{"id":86,"name":87,"slug":88},41,"For Sale by Owner","for-sale-by-owner",{"id":90,"name":91,"slug":92},42,"Featured","featured",{"id":26,"name":27,"slug":28},{"id":95,"name":96,"slug":97},52,"Luxury \u002F Vacation","luxury--vacation",{"id":99,"name":100,"slug":101},53,"Rent vs. Buy","rent-vs-buy",{"id":103,"name":104,"slug":105},80,"Time-sensitive","time-sensitive",{"id":107,"name":108,"slug":109},81,"Outdated","outdated",{"id":111,"name":112,"slug":113},147,"Internal","internal",{"id":115,"name":116,"slug":117},148,"Do Not Autopost","do-not-autopost",{"id":119,"name":120,"slug":121},320,"Inventory","inventory",{"id":123,"name":124,"slug":125},321,"Agent Value","agent-value",{"id":127,"name":128,"slug":129},322,"Affordability","affordability",{"id":131,"name":132,"slug":133},323,"Buying Tips","buying-tips",{"id":135,"name":136,"slug":137},324,"Downsize","downsize",{"id":139,"name":140,"slug":141},325,"Economy","economy",{"id":143,"name":144,"slug":145},326,"Equity","equity",{"id":147,"name":148,"slug":149},327,"Forecasts","forecasts",{"id":151,"name":152,"slug":153},328,"Selling Tips","selling-tips",{"id":155,"name":156,"slug":157},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":159,"name":160,"slug":161},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]