“The benefits of low mortgage rates have encouraged buyers for condos in the same way as for single-family homes,” Seiders said, “but condo supply hasn’t kept pace with demand. This lag has continued to add upward pressure to condo prices in many markets.”
Median condo resale prices rose 10% in 2001, to $123,200, and 15% in 2002 to $142,200, and have been climbing all this year to an average of $161,000 for the first three quarters.
“That represents an increase of 15.2% over the same period of last year, and the year’s not over yet,” said Seiders. By comparison, year-to-date resale prices for single-family homes increased by only 8%.
2004 NAHB Multifamily Pillars of the Industry Conference & Awards Gala
Plan to attend the Multifamily Pillars of the Industry Conference and Awards Gala, the premier educational and networking event of the year for the multifamily industry, in Palm Springs, CA, March 28-30. Explore both the current and future state of the multifamily industry. Click here for more information.
NAHB Multifamily Offers Three Multifamily Designations
NAHB Multifamily offers two designations for property management professionals. The Registered in Apartment Management (RAM) designation and the Advanced RAM designation provide superior training in the field. NAHB Multifamily also offers the Certified Leasing Professional (CLP) designation for those interested in sharpening their multifamily leasing and sales skills. Click here for more information.
Make Your Connection With www.nahb.org
Make your connection to the latest housing industry news and information with www.nahb.org — the official public and members-only Web site of NAHB.
Log in today to register for educational seminars, meetings and networking events; find important economic and housing data; and learn the latest developments in NAHB’s efforts to promote housing. It’s all available to you 24 hours a day at www.nahb.org. Just click the "Member Log In" button to get started.
If you are a member and need information about NAHB products and services, use the NAHB Staff Contact Directory to look up the direct telephone extensions for NAHB staff experts.
[ Go to Top ]