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March 21, 2013
The Environmental and Energy Study Institute (EESI), the American Public Transportation Association (APTA), and the National Association of Realtors (NAR) held a briefing on the resiliency of residential real estate values located in areas well-connected by public transportation. Although the recent economic crisis had a negative effect on housing prices around the country, property values with good access to public transit remained much closer to their pre-recession levels than properties without access, even within the same city. A new report commissioned by APTA and NAR investigates the relationship between residential real estate and public transportation in five U.S. metropolitan regions. The study, The New Real Estate Mantra: Location Near Public Transportation, was released on March 21.