Mar 13

Agents See Bright Spot for Town homes

Agents See Bright Spot for Town homes

Agents See Bright Spot for Town homes. Image courtesy of jennythip / FreeDigitalPhotos.net

Agents See Bright Spot for Town homes. Image courtesy of jennythip / FreeDigitalPhotos.net

More real estate professionals are optimistic about the town home market’s rebound within the next six months, according to the January 2015 REALTORS® Confidence Index Survey. A growing interest in “walkable” communities may be helping to boost recent demand for town homes and condos.

Town home demand is expected to be strongest in states that are seeing employment growth from the technology and oil/gas industries, including California, Washington, North Dakota, and Texas, according to researchers from the National Association of REALTORS®. The town home market is also gaining steam from stronger manufacturing sectors in Michigan, and greater demand from international clients in Florida.

While REALTORS® are feeling positive about the condo market, obtaining Federal Housing Administration financing for condo buyers remains a big challenge. Many condos do not meet current FHA eligibility criteria.

Source: “Demand for Town homes Improved in Many Markets in January 2015,” National Association of REALTORS® Economists’ Outlook Blog (March 11, 2015)

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