Another pandemic shift: home buyers in expensive markets more likely to trade a longer commute for lower prices, a new analysis shows
Home buyers during the pandemic have been willing to take on long commutes in exchange for lower prices, a new analysis shows.
In some of the nation’s most expensive metro areas, home prices rose faster in areas with longer morning commutes to business districts compared with neighborhoods with short commutes, according to an analysis from Zillow Group Inc. and HERE Technologies. That is a reversal from prior years, when home prices in those metro areas accelerated faster in neighborhoods close to job centers.
Analysts say the change reflects that commute length has declined in importance for home buyers, as many workersoften going forward. At the same time, rapidly rising prices have made affordability a bigger concern for many buyers. “It’s been a big change,” said Ed Pinto, director of the AEI Housing Center at the American Enterprise Institute, who expects the shift in home-buyer demand to be long-lasting. “There’s a huge group of people who can work from home, and they’ll continue to work from home when things go back to…normal.”
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
WSJ News Exclusive | For Home Buyers, Length of Commute Drops in Importance, New Data ShowsAnother pandemic shift: home buyers in expensive markets more likely to trade a longer commute for lower prices, a new analysis shows.
Leer más »
What's Good (And What's Not) In At-Home Hair GlossesAt-home products have been growing in popularity, but will they damage your hair? We asked the experts.
Leer más »
Another month, another record: SoCal home prices hit all-time highSouthern California's median home price soared to $680,000 in June, an all-time high for the six-county region. Sales are also on the rise.
Leer más »
At least 1 dead, 7 homes damaged after Lackawanna home explodedAt least one dead, seven homes destroyed in Lackawanna, New York explosion. Lackawanna Fire Captain Andrew Kaminski said a gas explosion is believed to be the cause.
Leer más »
The Bachelorette's Michael A. Needs to Be Sent Home For His Own GoodFor the love of God someone please send this man back to his life.
Leer más »
King Philippe's tribute to Prince Philip at Brussels home revealedTwo photographs of the Queen and the Duke of Edinburgh were spotted at the Royal Palace of Brussels
Leer más »