A recent Kelley Blue Book report relayed that fewer consumers are worrying about the price of gas when considering purchasing a new vehicle.
During the last several months, rising gas prices weighed heavily on many, as many respondents relayed their fears of vehicles with ineffective gas mileage as well as costly monthly gas expenses.
However, KBB's May survey showed optimism, as 52 percent of respondents believe gas prices will fall during the next 30 days. Furthermore, only 30 percent are letting the price of gas affect their decision, down from 35 percent in April.
High gas prices were also dictating the real estate market for many consumers. In May, Coldwell Banker Real Estate released a report that found more home seekers were looking for properties closer to work in order to avoid lengthy trips. Now, with confidence growing among the commuter sector, more homebuyers can begin expanding their location parameters.
Overall, optimal gas prices rose from $3.00 per gallon in January and February up to $3.27 in May. In Houston, the average gas price is $3.59, according to HoustonGasPrices.com, down nearly 20 cents since May. If this average continues to decline, the Houston real estate and automotive market could experience significant gains soon.
Courtesy of 2M Realty News