Cheaper Gas Prices Drive Suburban Home Sales

by Admin on December 23rd, 2014

Gas prices have dropped considerably. And depending on who you listen to, this is either good for our economy or bad for it. With that being said, some experts suggest that suburban home sales may actually improve if gas prices continue to go lower. In a recent article featured on The Washington Post, it was reported that with gas prices being at their lowest in a span of eleven years, commuters may choose to live farther away from their places of employment.

Although only time will tell, one study suggests that when gas prices drop by 10%, there is also a 10% decline in the number of homes built in outlying areas. Other studies have revealed that as the price of gas goes up, home values rise in the cities and drop in the suburban areas.

At the end of the day, it's too early to make any bold predictions. Builders may need to wait patiently to see how stable this decline in gas prices really is, before jumping on the suburban bandwagon.

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