With previous low gas prices, many Americans chose to buy homes in the suburbs or more rural country areas. They did not mind commuting. However, due to the ever rising gas prices, now up to at least $1.07 plus, many are now starting to look inward and to make sure that their new home is near some kind of gas station, or mode of transportation other then driving: subway, metro, bus, or good old fashioned walking. The last time trends like this were noted, was back in 1970 with the oil scare crisis.

Last Wednesday, a survey was done with 900 Coldwell Banker agents. The results showed that 96% of the agents felt rising gas prices were a major client concern and 78% felt that the surge of interest in urban living was in direct correlation to the higher prices in gas.

The manager of Coldwell Banker Residential Brokerage in the Capital Hill of Washington, D.C., Don Denton, stated that "We have seen a steady increase in interest in our area over the last several years and it is comparable to how the reaction to the 1970s gas crisis sparked an interest in this area and inside the entire Beltway,".

Many cities are trying to take advantage of this trend by approving their transport systems. The Rapid Transit system in Dallas will be doubling its rail lines, and the project is expected to be finished sometime in 2014, with a potential cost of $4 billion.

For those homes not near handy and economic methods of transportation, their market values are decreasing as the gas prices increase.