Home prices don’t have much to do with how expensive a gallon of gas is, right? Not so. For every dollar that gas prices fall, home prices go up by $4,000.
Realtor.com found eight predictors of housing prices, sorting through what’s real and what’s just a kooky coincidence. Other indicators include proximity to sports stadiums (where home value increases $793 for each mile closer to a venue) and casinos, which can negatively affect home values up to 10 percent.
As for gas prices, cheaper fuel rates increase consumer confidence and provide more disposable income for buyers. Also, listing brokers are more likely to market homes that are farther away more aggressively and give more showings when gas is cheap.