Condo Prices Reveal Housing Trends

Condo Prices Reveal Housing Trends

 

In trying to get a read on how much real estate markets are slumping, some people may be looking at the wrong indicator.

 

The National Association of Realtors (NAR) tracks sales of both single-family homes and condos.

 

In the third quarter of 2005, NAR stats for single-family homes show that prices fell 1.2 percent from a year earlier, with 30 percent of markets showing declines.  

 

Condo prices not only dropped more steeply, 2.1 percent, but 46 percent of markets showed declines.   Which gives a truer picture?

 

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