Realtor.com's staffer Yuqing Pan compiles a list of eight predictors of future housing prices from those traditionally most unusual places, including the grocery stores and the gas stations. Study sources include Longwood University, Florida Atlantic University, RealtyTrac, and National Association of Realtors.
Gas prices is one factor that can predict which way home prices are heading. Cheap gas eventually pushes the home price up. Specifically, for every $1 below average in gas prices, home prices go up by about $4,000. At the same time, low-priced gas would also accelerate the home sale process, which takes a toll on home inventories. For example, a $1 decrease in gas prices will also cut down the average time to sell a property by approximately 25 days.
Other predicators include: grocery stores, sports facilities, marijuana, temperature change, casinos, highways, and trees on the street.