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Yvette M. Palmer, Associate Broker
Market Watch
Real estate plays an integral role in the U.S. Economy. Residential real estate provides housing for families, and is often the greatest source of wealth and savings for many of us. The National Association of Realtors® estimates that one job is generated for every two home sales. Using that ratio, 1,000 home sales generate 500 jobs. The ratio is derived from the economic impact of an existing home sale. Each home sale contributes about sixty thousand dollars to the economy or Gross Domestic Product (GDP).

All real estate is local and every market is unique. Following housing market indicators will provide you a good grasp of the housing market conditions provide by the Santa Cruz County MLS. In addition, NAR releases statistics on sales and prices of existing single-family homes for the nation and the four regions. All these figures are updated monthly for single-family existing-home sales rates, actual totals and median prices.