Seventy-three percent of recent home buyers said that commuting costs were an important factor, according to the National Association of Realtors. 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."
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