August 24, 2006

Condo real estate market outlook

Real Estate Slow Down — aj @ 11:11 am

While Florida and other hot condo real estate markets have been crashing, not everyone may be in for a rough ride.

“Although the median price of a condo rose nearly 14 percent last year, double-digit increases are a thing of the past. The NAR expects prices to rise 3 to 4 percent in 2006 (compared with 6 percent for single-family homes). And the outlook varies by region. Condo owners in the Midwest, concentrated in the Twin Cities and Chicago, probably have the least to worry about. The South and West have taken the biggest hits. Sales there have fallen 14 percent in the past year, and prices are lower, too.”

From Kiplinger’s Personal Finance

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