Tag Archives: single

Condos Outpacing Single-Family Homes in Appreciation

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Condos are appreciating faster than single-family homes in markets across the U.S., especially where job markets are thriving or urban renewal is underway, according to the third quarter Zillow September Real Estate Market Report. Condos in the U.S. are appreciating at a rate of 5.1 percent, compared to the 3.7 percent appreciation among single-family homes.

Condo values crashed hard during the housing bust that kicked off the Great Recession. From the pre-recession peak to the lowest value, the median U.S. single-family home lost 20 percent of its value; from peak to bottom, the typical U.S. condo lost 33.2 percent of its value.

The housing market has since bounced back, and condos have finally caught up to other homes. In September, according to Zillow’s data, they are appreciating faster than single-family homes in nearly two-thirds of the top 35 most populated housing markets … read more —> http://zillow.mediaroom.com/

Single-Family Housing Poised to Take Off in 2015

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A growing economy, rising household formations, low mortgage rates, and pent-up demand will help single-family housing production rev up in 2015, while a growth in renters will keep the multifamily market at cruising altitude or higher, according to economists who participated in the latest National Association of Home Builders (NAHB) 2014 Fall Construction Forecast.

NAHB is forecasting 991,000 total housing starts in 2014, up 6.6 percent from 930,000 units last year.

Single-family production is expected to rise 2.5 percent this year to 637,000 units, increase an additional 26 percent next year to 802,000, and reach 1.1 million in 2016.

Setting the 2000-2003 period as a benchmark for normal housing activity when single-family production averaged 1.3 million units annually, single-family starts are expected to steadily rise from 48 percent of what is considered a typical market in the third quarter of 2014 to 90 percent of normal by the fourth quarter of 2016.   More info —> 

courtesy of:  http://www.nahb.org/