This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Developers Take Notice: Home Buyers Just Want an Easier Commute

NEW YORK (BankingMyWay) Home values are once again rising steadily, and with that comes more buyers. Aside from room for their family, what do these buyers want in a tighter market? An easy commute, mainly.

According to CoreLogic, a global real estate industry analyst, U.S. home prices rose 11.3% in the fourth quarter of last year compared with a year earlier.

"Limited construction of new homes and low inventories of existing homes for sale contributed to the jump," says David Stiff, principal economist for CoreLogic Case-Shiller, which co-produces a quarterly reading of the nation's housing market. "Developers remain cautious about building too many new houses until they see stronger demand in their markets."

Stiff also says that more "traditional buyers" are entering the housing market, even as speculators and investors leave it, and it's known buyers who actually move into their houses and build lives there want certain things.

Must Read: Paying Off Credit Debt Is Bad? Consumer Sentiment Makes It Look That Way

At the top of the list is a good commute to work, followed by neighborhoods filled with skilled professionals who help raise the profile of the community and thus the value of homes.

"Seventy-three percent of recent homebuyers said that commuting costs were an important factor when deciding whether or not to purchase," says Jessica Lautz, an economist at the National Association of Realtors.

To accommodate that desire for an easy commute and draw more skilled professionals to a community, real estate developers need to follow up on long-known desires to have shops, restaurants and transit within easy walking distance, says Lawrence Yun, chief economist at the National Association of Realtors.

"Skilled workers move where they can find work, creating more traffic and driving up housing prices," Yun says. "It creates a positive feedback loop; the more skilled workers employed in an area, the more others want to move there."

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%
TSLA $231.61 0.00%
YHOO $32.94 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs