MILWAULKEE – July 21, 2008 – Home sales trends might soon shift into a reverse commute.
First-time buyers who used to "drive till they qualified" by seeking affordable housing in outlying suburbs with cheaper land are rethinking that strategy, say local brokers. High gas prices are reordering some buyers' definition of affordable: the shorter the commute, the more affordable the house.
"Buyers are upfront about that. Buyers are calculating their commuting costs for properties they like, and considering that as part of the living in that house," said Diane Alexander, an agent with Realty Executives Integrity in Brookfield.
She has been trying to sell a "darling" house in Ixonia, in Jefferson County, for three months. "At $179,900, it's a first- timer's house, but it's tough, with the long commutes," Alexander said. The rest of the story....
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