Buying a condominium
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In the fourth quarter, the median existing condominium price was $174,000, 14.9 percent higher than a year ago. By comparison, the typical single-family home cost $171,600 in the fourth quarter. This is the first time the typical condo cost more than a detached house, according to the National Association of Realtors. What’s more, prices are climbing faster for condos than for homes. What’s going on? One possible reason is that more luxurious units are being included in the mix that are on par with single-family homes. And the momentum doesn’t appear to be slowing. Are you in the market for a condo? Here are today’s five tips… More : money.cnn.com |