Did you know that in our state of Delaware in 2007 the real estate industry accounted for 15.5% of gross state product? When a home is sold in Delaware:
- Income generated for related industries is $21,024
- Additional expenditures on consumer items is $5,331
- The sale generates an economic multiplier impact that translates to dollars spent in local restaurants, sports games, etc. to the amount of $12,650
- The sale generates new home production which translates to $29,200 for each home
- The total income derived from the sale of a home in Delaware is $68,205
What's the impact of real estate in your state?
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