San Diego, Boston, Phoenix, Las Vegas, South Florida, and other high growth condo markets are all experiencing decreased demand, falling prices, and increased Days-on-Market and inventory. Many pending condo development are being delayed or cancelled.
In the (formerly) hottest housing markets, average sales price per square foot is down between 5% and 30%, and as many as 40% of the current listings have had at least one price cut.
I'm not a realtor, but Portland's condomania is looking kind of toppy from my perspective.
PRINT
Condomania is OVER in the most inflated markets
San Diego, Boston, Phoenix, Las Vegas, South Florida, and other high growth condo markets are all experiencing decreased demand, falling prices, and increased Days-on-Market and inventory. Many pending condo development are being delayed or cancelled.
In the (formerly) hottest housing markets, average sales price per square foot is down between 5% and 30%, and as many as 40% of the current listings have had at least one price cut.
I'm not a realtor, but Portland's condomania is looking kind of toppy from my perspective.