Real Estate Sales Added $49.6 Billion to the Missouri Gross State Product in 2019
Every home sale in 2019 added at least $54,741 to a maximum of $184,763 to the economy of in 2019, according to National Association of REALTORS reports. And economists point out that home sales can have the same economic boost during the coronavirus pandemic, too. In Missouri, each home sale added an average of $59,599 to the state’s economy. In 2019, real estate sales accounted for $49.6 billion or 14.9$ of the gross state product.
NAR Calculated the total economic impact that real estate–related industries can have on individual state economies, and how the expenditures from a single sale can drive other businesses, like in home construction, real estate brokerages, mortgage lending, title insurance, and more.
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