News from the NAHB:
No longer considered just a second-choice option for home buyers who can’t afford a house, condominiums are giving the single-family home a run for its money as the primary preference for many new home buyers.
Changing lifestyles of Americans are often cited as the reason there are many more home buyers than ever before choosing condominium units over houses. The U.S. Census Bureau saw a decline in the proportion of married-couple households with their own children from 40 percent of all households in 1970 to 23 percent in 2003.
Demographics that are on the increase include single professionals, divorcees, partners without children and active retirees. Buyers who no longer need to factor in a yard or school district when they choose a home are not restricting themselves to traditional housing options. Read the full story>>