Condos Lag Single Family in Price Hikes: Opportunity for Investors?

Marc Rapport, The Motley Fool
·3 min read

A searing market for residential housing continues to break records for shrinking supply and rising prices but interestingly, according to a leading data cruncher, condos aren’t completely along for the ride, and that could be an opening for real estate investors. Black Knight (NYSE: BK), in its latest Mortgage Monitor Report released on April 5, says that nearly three-fourths of the nation’s 100 largest housing markets have seen annual price growth of at least 10% -- led by Boise, Idaho, at 25.7%. The positive numbers run deep: at number 50 is Chicago, still up 7.3% in a year.The mortgage data aggregator and analysis firm also says that nationally, prices are up 12.3% year over year among single-family residences -- the highest such annual home-price growth rate of any month on record dating back to 1992 -- but that condos have only seen half that rate of growth (6.4%) over the past 12 months.