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Condos could make comeback in housing market if single-family home prices keep rising
The drivers impacting home buying decisions now
National Housing Conference CEO David Dworkin on how the coronavirus outbreak has impacted the housing market and home buying trends.
Experts say the desire for condominiums could heat up if the price of single-family homes continues to rise.
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While the sales prices of U.S. condos increased by 5.4% compared to a year ago to a median of $266,000 in August, single-family home prices surged 11.9% to $343,000, Redfin said.
HOME PRICES CLIMB TO RECORD IN CORONAVIRUS PANDEMIC AS BUYERS SEEK SPACE