Realtors, region seek boost from home show

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By Denise Wilson, Staff Writer 1:36 AM Friday, June 10, 2011

WEST CHESTER TWP. — New home sales can provide a sign of relief for Realtors in an economy troubled by high unemployment, foreclosures and rising food and gas prices.

Homebuilders and Realtors are hoping that Homearama 2011 at Foxborough in West Chester Twp. will provide a much-needed transfusion in the region. The home show, which runs Saturday through June 26, features homes ranging between $670,000 to more than  $1 million.

A day designed exclusively for Realtors will be 11:30 a.m. to 1:30 p.m. Tuesday. Admission is by invitation only.

Realtor day is sponsored by Union Savings Bank, said Home Builders Association of Greater Cincinnati officials — the sponsors of Homearama.

Dan Dressman, executive director of the HBA, said the biggest winners of Homearama are those Realtors who actually sell a Homearama home.

“Many times it spurs people who may be on the fence to jump into the market,” he said.

Dressman said there is a wide variety of homes available in Greater Cincinnati in a variety of price ranges, from starter to move-up to Homearama at the higher end of the market. Homearama also provides an economic boost to other parts of the business sector in the region, he said.

For each single-family home that is built, the HBA estimates that three jobs are created. Other statistics from the HBA reveal:

• For each new home built, a total of $90,000 is generated in government revenue — $67,000 in federal taxes and $23,000 in state and local taxes.

• Jobs are generated in the industries where lumber, concrete, lighting fixtures, heating and cooling equipment, and other products that go into a home are produced. Housing creates other jobs for realtors, lawyers, mortgage and insurance companies.

• About half of the three jobs created are in the construction industry.

• Housing makes up an estimated 15 percent of the U.S. Gross National Product.

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