Prices at the Pump Impacting Housing Market
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BALLWIN, Mo. (KMOX) – A new survey shows rising fuel prices are impacting where people choose to live.
“What I’ve come across recently is buyers who are actually basing their decision on where they live… on where they work, ” says Realtor Joyce Reeves. Reeves works with the Kathy Irvine Team out of the Ballwin/Chesterfield Coldwell Banker Gundaker office.
75-percent of Coldwell Banker realtors across the country say the spike at the gas pump is influencing home buyers.
Reeves tells KMOX News, in the past, her clients were wanting the bigger home and bigger lots often found in the outer reaches of the area and weren’t as concerned about the drive to the office. “Buyers are really being conscious of how far they’re commuting, how much they’re racking up the miles on their car, and they’re really giving some serious thought where they’re gonna locate.”
Reeves says that means urban areas are getting more consideration from home buyers.
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