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Condo Appreciation Outpaces Single-Family Homes

by | Oct 27, 2015

Limited inventory of  homes, popularity of urban life cause runaway condo appreciation

By Jeff Sorg, OnlineEd Blog

housing graph 3(October 27, 2015) –   Condos are appreciating at a rate of 5.1 percent, compared to the 3.7 percent appreciation among single-family homes. Condos are appreciating faster than single-family homes where job markets are thriving or urban renewal is underway, according to the third quarter Zillow® September Real Estate Market Report[i].

According to Zillow, during the Great Recession the typical single-family home lost 20 percent of value; from peak to bottom, the typical condo lost 33.2 percent of its value. In September, according to Zillow’s data, condos are appreciating faster than single-family homes in nearly two-thirds of the top 35 most populated housing markets.

“The housing bust hit condo values hard, and over the past few years, buying a condo wasn’t always considered a good investment compared to a single family home,” said Zillow Chief Economist Dr. Svenja Gudell. “But that’s changing, and condos increasingly represent a strong-performing, often affordable choice, particularly for first-time buyers interested both in homeownership and in keeping a lower-maintenance, city lifestyle.”


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 All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

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