Study: Are gas prices changing home buying habits?

Filed under: Etc., Earnings/Financials

Rising gas prices have an affect over many aspects of our lives. Besides increasing the cost of operating automobiles, more expensive fuel leads to an increase in the cost of shipped goods, food and airline tickets. Can gas prices also create changing attitudes amongst home shoppers?

Coldwell Bankers Real Estate recently conducted a survey of real estate professionals, and it found that 75 percent reported clients reevaluating where they search for homes. Home shoppers are looking to reduce commuting distance in order to reduce fuel consumption. The survey found that 77 percent of real estate professionals saw an increase in the number of folks looking for home offices and 68 percent of that pool believe the surge is attributable to rising fuel costs.

The folks at Nielsen have a different take on the matter, however, and believe U.S. consumers have adjusted to a new "spending reality." Folks are adjusting their spending habits to conserve where possible, but Nielsen doesn't believe it's on the level of the 2008 economic freakout.

So now we're going to turn to you, dear Autoblog reader. If you're in the market for a house, have rising gas prices shaped your search in any way? Sound off in Comments.

Are gas prices changing home buying habits? originally appeared on Autoblog on Wed, 25 May 2011 18:41:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Source: http://www.autoblog.com/2011/05/25/are-gas-prices-changing-home-buying-habits/

Duke Dinsmore Frank Dochnal Jose Dolhem Martin Donnelly Carlo Abate George Abecassis Kenny Acheson Andrea de Adamich Philippe Adams Walt Ader Kurt Adolff Fred Agabashian Kurt Ahrens Jr Christijan Albers Michele Alboreto Jean Alesi Jaime Alguersuari Philippe Alliot Cliff Allison Fernando Alonso Giovanna Amati George Amick Red Amick Chris Amon Bob Anderson Conny Andersson Mario Andretti Michael Andretti Keith Andrews Elio de Angelis Marco Apicella Mário de Araújo Cabral Frank Armi Chuck Arnold Rene Arnoux Peter Arundell Alberto Ascari Peter Ashdown Ian Ashley Gerry Ashmore Bill Aston Richard Attwood Manny Ayulo Luca Badoer Giancarlo Baghetti Julian Bailey Mauro Baldi Bobby Ball Marcel Balsa Lorenzo Bandini Henry Banks Fabrizio Barbazza John Barber Skip Barber Paolo Barilla Rubens Barrichello Michael Bartels Edgar Barth Giorgio Bassi Erwin Bauer