Deciding to move on from your home is an emotional decision. Even if you are ready to go, the process from staging to walking out the door the last time can take a lot out of anyone.

But this personal change is also a vital part of our economy—nationally, state-wide and right in our neighborhoods. Selling your home is a big deal for you and our communities. Julia and I take the process seriously.

The Department of Commerce only measures real estate construction as part of the U.S. gross domestic product. In 2018, it made up 6.2% of GDP. But an enormous part of the country’s economy, around 70%, relies on consumer spending. In real estate, those transactions are things like commissions and fees for agent income, moving or remodeling expenses like new furniture or paint and home maintenance products like snowblowers or power tools.

Using this model, the National Association of Realtors calculated that Maine’s real estate industry made up 18% of our economy last year. Adding a multiplier effect for when contractors recirculate that money, NAR calculated that for every Maine home sale, new or existing, an average $94,593 is spent on related costs. And almost all of that could be spent locally. 

2021 is going to be another busy year. We hope competition levels off for our first-time buyers, but according to Lawrence Yun, Chief Economist at NAR, lending rates will likely stay as low as the existing housing stock in Maine.

If you are a homeowner who felt unsure of selling in 2020, but more confident as the calendar turns, you didn’t miss your boat. Working with experienced brokers like Julia and I will save you time, money and aggravation. RE/MAX Shoreline is globally connected and locally committed to providing a one-on-one service that is attuned to your needs.

Please get in touch for a free consultation to explore your options. Call us at 207-838-1651 or email us at [email protected].