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. 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 | Biden to Tap Former Hill Aide for Top Treasury Post Overseeing Financial RulesPresident Biden plans to nominate Graham Steele, a long-time congressional staffer with ties to progressives, as assistant Treasury secretary for financial institutions
Leer más »
WSJ News Exclusive | U.S.-Asia Digital Pact Held Up by Squabble Among Biden OfficialsA skirmish between national security and trade officials in the Biden administration is hindering efforts to forge a digital-services pact with Asian countries.
Leer más »
WSJ News Exclusive | U.S.-German Deal on Russia’s Nord Stream 2 Pipeline Expected SoonThe U.S. and Germany have reached an agreement allowing the completion of a controversial Russian natural gas pipeline, according to officials from Berlin and Washington, who expect to announce the deal as soon as Wednesday, bringing an end to years of tension between the two allies.
Leer más »
WSJ News Exclusive | Cvent Nears $5-Billion-Plus SPAC DealThe event-management software company owned by Robert Smith’s Vista Equity Partners is slated to merge with Dragoneer Growth Opportunities Corp. II in a deal that will take Cvent public.
Leer más »
WSJ News Exclusive | Comcast CEO Brian Roberts and ViacomCBS Chairman Shari Redstone Met to Discuss Streaming PartnershipComcast CEO Brian Roberts and ViacomCBS Chairman Shari Redstone met and discussed a variety of possible business partnerships that would allow the companies to enter non-U.S. markets together
Leer más »
WSJ News Exclusive | Chinese Suppliers to Apple, Nike Shun Xinjiang Workers as U.S. Forced-Labor Ban LoomsChinese factories that make products sold in the U.S. are shunning workers from Xinjiang, as Western countries increase scrutiny of forced labor from the region where Beijing has been accused of committing genocide against local ethnic minorities
Leer más »