NBC, AP: Gas prices, lifestyle choices lead homebuyers to favor city neighborhoods

More and more news outlets are picking up on the story that the costs and hassles of suburban living are outweighing the benefits and increasing the demand for in-town, walkable, city neighborhoods with good transportation choices.  

A story on MSNBC’s site reports that a recent survey of 900 real estate agents from Coldwell Banker revealed that over three-fourths of the agents’ clients are more interested in city living now because of higher fuel prices.  Homebuyers are also looking for ways to spend less time in their cars to free up opportunities for spending more time with their families or pursuing personal interests.  As a result, in-town neighborhoods are holding or increasing their home values while those in more far-flung locations are sinking fast. 

The story cites examples of purchasers seeking more convenience and lower commuting costs in homes near commuter rail stations, regional transit systems, and established urban centers.  This will be great news for communities undergoing thoughtful rebuilding like Old North, and it will be great news for the environment as we move to a less automobile-dependent and land-consumptive society. 

After wasting an hour and a half in the process, I gave up on trying to embed a video segment in this post, but here's a link to a terrific two-and-a-half minute segment on the trend toward city living from NBC News.

Many thanks to Helen Chin of the Surdna Foundation for pointing me to this story.