The Fine Print: Whatever Happened to Condo-mania?
During the Great Condo Boom of 2003–2006, developers couldn’t build enough units, and everyone seemed to want one. These days? Not so much. While single-family homes are seeing solid gains in pending sales and median sale prices, pending sales of condos are dropping, with only nominal gains for the median sales price. While the supply of single-family homes is tightening, the number of condos on the market is increasing.