by Linda Hutchinson
With gas prices reaching new highs and patience running thin…the needs of homebuyers are changing and causing a shift in housing patterns…it’s not just a move closer to the City…it’s a move in lifestyle.
The trend is moving toward walkable, urban areas. It doesn’t mean the end of the suburbs…there are still plenty of people who want to be away from the hustle and bustle and want the schools and suburban feel. But over the past few years I have personally witnessed a desire for homebuyers to be living the City lifestyle. They walk to grocery stores, to parks, to restaurants. Hence the strength of Central Florida real estate like Winter Park, College Park, and downtown Orlando neighborhoods. These areas tend to retain their home values and are still strong in sales. Finding affordable housing in these locales however is another story.
The new luxury is City living. The new luxury is walking! I predict this trend will continue and homes located in walkable areas will increase dramatically in value. No one wants to drive five miles to the grocery store anymore when you can get some exercise and shop at the same time. It’s chic to walk and it’s here to stay.