HOUSTON, Texas (KTRK) -- With home sales hitting record levels, finding your first home in Houston's hot market is challenging. But a new analysis from Zillow identifies a key area of real estate that could afford big opportunities to those trying to break into the market.
In 2020, single-family home sales soared (both nationally and locally), but condo sales were left behind, the real estate authority says.
[Ads /]
While single-family home inventory dropped, condo inventory recovered and rose, and the national median condo sale price rose just 7-8 percent year-over-year, compared to single-family home prices growing by 14 percent. Another bonus: Condos generally are priced lower than single-family homes (in November, the median-priced U.S. condo sold for about $41,000 less than a home).
For more on this story, visit our partners at CultureMap.