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 17% of the GDP, real estate is clearly a major driver of the U.S. economy.
- Real estate is a major driver of the U.S. economy, accounting for $3,894.3 billion or nearly 17% of the GDP in 2021.
- Nationwide, NAR estimates that each home sale at the median generated about $113,000 of economic impact in 2021.
- NAR estimates that every home sale generates two jobs.
- NAR calculated the total economic impact of real-estate-related industries on each state's economy, as well as the expenditures that result from a single home sale, including aspects like home construction costs, real estate brokerage, mortgage lending, and title insurance.
New Mexico Highlights
Download the Economic Impact of a Typical Home in New Mexico
Learn more at NAR Economist’s Outlook blog post that provides interactive maps and additional analysis for the U.S.