As many homebuyers look to upsize as a result of remote working arrangements or move to the suburbs or more isolated towns, some are finding they are being priced out of single-family homes as prices increase due to low inventory. The next best thing: affordable condos.
As the average single-family home s the U.S. costs $58,000 more than the average condo, more and more families are looking at condos.
Condo sales fell more than 50% in the spring and many are currently heavily discounted. October saw sales increase nearly 23 percent compared to 2019 so this is clearly a growing rend.