Condos selling at a record pace after ‘pandemic-fueled slump’: Redfin

condos selling at a record pace after pandemic fueled slump redfin

Sumary of Condos selling at a record pace after ‘pandemic-fueled slump’: Redfin:

  • An increasing number of U.S. homebuyers are turning to condos after getting “priced out of the market for single-family homes,” according to a new report.
  • In June, the typical condo sold above the asking price for the first time in about nine years, according to Redfin.
  • CLICK HERE TO READ MORE ON FOX BUSINESSA typical condo flew off the market to the tune of $304,000, which was 0.7% above its asking price, according to the brokerage.
  • This means the condo was listed at $301,872. Renewed homebuyer interest in condos initially began in May following a “pandemic-fueled slump,” Redfin said.
  • “Earlier in the pandemic, many buyers shunned small condos in favor of large detached homes with space for offices and homeschooling,” Redfin chief economist Daryl Fairweather said.

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