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CoreLogic: Could Lower Energy Prices Stimulate Housing Demand?

Could lower energy costs translate into a
more lively real estate market?  It seems
logical
– the less consumers must spend to keep their cars moving and their
houses warm the more they can save toward or spend on owning a home.   CoreLogic Senior Economic Molly Boesel takes a
different approach to the question, one revolving around the cost of commuting,
in an article in the company’s blog Market
Pulse.

Boesel says that home heating oil prices
in the first week of November were 40 cents lower than they were at the same
time in 2013 and that in the four weeks before her article was written the
average price of gasoline had fallen by almost 30 cents to just over $3 per
gallon, the lowest since the end of December 2010.  (After last Friday’s energy bloodbath AAA puts
the average price at $2.769).  However,
she sees only gasoline prices as having a direct impact on housing choices.

 

…(read more)

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