Remote work is pushing up home prices in areas that may not be as friendly for commuters.
A new report from Redfin says that home prices in car-dependent areas have risen twice as fast as those in transit-accessible areas since the start of the pandemic.
In car-dependent areas nationwide, the median home-sale price has increased 32.8% to a record $418,100 since January 2020. In transit-accessible regions, it has risen 15.6% to a record $540,500 during the same time period.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
