| July 13, 2015

How to Drive Down Home Prices

Do gas prices have something to do with housing prices?

If you want to buy a house for a bargain, look in areas that have high gas prices – the asking price might be a lot lower. That’s one fascinating hypothesis from a novel new study conducted by researchers at two universities.

Not only that, but “falling gas prices can shorten the time it takes a house to sell,” says the study, conducted by Florida Atlantic University and Longwood University in Virginia.

By analyzing data in central Virginia, researchers concluded…

For every $1 per gallon decrease in gasoline price, average time to sell a property decreases by 25 days. In addition, for every $1 per gallon decrease in gasoline prices the average selling price rises by 2.4 percent, which amounts to roughly $4,000 per sold property in the study.

So what’s the connection? Researchers think it’s two factors – one obvious, one amusing.

First, it’s simply a matter of consumer confidence and “more disposable income for potential buyers.” But it also might have something to do with motivating real estate agents, who spend a lot of time in their cars…

The effort put forth by the listing broker is likely to increase with cheaper gas prices, which means more showings on a particular property.

Whatever the reason, the research suggests this might be a good time to buy: Gas prices are down almost a dollar from where they were this time last year. If you’re considering buying or selling, don’t just look at gas prices. Look at Consolidated Credit’s extensive expert advice on the topic. Check out the Housing Counseling section.

Driving the Point Home

This map shows your state’s average gas price and its average home values. It’s not scientific, just for fun. Researchers studied one market and theorize that gas prices affect home sales in some obvious but also amusing ways. See the story for details.

Sources: Gas prices are from GasBuddy, July 7, 2015. Home values are from Zillow’s Zillow Home Value Index for All Homes, May 2015.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive