Follow us on

Wednesday, May 22, 2013 | 11:14 a.m.

Updated: 8:45 p.m. Tuesday, April 29, 2008 | Posted: 8:20 p.m. Tuesday, April 29, 2008

Gas Prices Boost Local Housing Market

HUNTINGDON, Pa. —

Some people have been keeping their miles to a minimum until gas prices start to drop, but others are moving out of rural areas to shorten their commutes.

Dorothy Colony owns Colony Realty Group. She said she's been inundated with phone calls from people who want to buy a house in Huntingdon.

"We've had about 15 or 16 calls for a house we had listed on Moore Street," said Colony.

Colony said the interested buyers work in Huntingdon at places like the prison and the hospital, but they live out of town. So as their commute becomes a bigger drain on their wallets, they're ready to move closer to their jobs.

Frank Pessolano is a doctor at J.C. Blair Memorial. He commutes from Somerset and has put his housing hunt into full court press.

"Houses seem to go off the market as fast as they go on the market," said Pessolano.

Colony said surprisingly, compared to the national trend, there aren't many houses in Huntingdon up for sale. And the houses that are on the market, aren't selling at a reduced price because they seem to be selling quickly.

Colony said the sale is already pending for one house and they've kept their eye on the market for others to help potential buyers, but some folks like Pessolano have opted to build a new home.

More News

 
 
 

© 2013 Sinclair Broadcast Group. By using this website, you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad ChoicesAdChoices.