Boston Public Library
Kirstein Business Library

Concourse Level, Johnson Building, Central Library, 617-859-2142

How Does Real Estate Activity Affect the Massachusetts Economy?

by Betsey Lippmeier

home constructionAccording to the Bureau of Economic Analysis and the National Association of Realtors, the real estate industry accounted for $61,041 million or 15.6% of the gross state product in Massachusetts in 2011.  Economic contributions come from home construction, real estate brokerage, mortgage lending, title insurance, rental and leasing, home appraisal, moving truck service, and other related activities.

According to the report Economic Impact of Real Estate Activity : Massachusetts, dated March 2013  the sale of a typical home in Massachusetts  for $294,900 generates an additional $93,716 in spending.

 

Leave a Reply

Please remember the commenting guidelines:
  1. No spam, personal attacks, or rudeness.
  2. Stay on topic.