1020 ET - Redfin reports that 68% of U.S. condos sold in February went for less than their asking price, up from 63.3% a year ago and the highest February rate in five years. A cooling housing market, driven by rising inventory, high prices, and elevated mortgage rates, has shifted leverage to buyers, who are negotiating better deals. Condo sales are slowing fastest in Florida, where soaring HOA fees--due to rising insurance costs and new safety rules--are hitting hard. Redfin notes condos now sell at a bigger discount, with February's sale-to-list-price ratio at 95.4%--down from 96.4% last year and nearly 100% three years ago--meaning a typical condo sold for 4.6% below asking. Once an affordable entry to homeownership, condos are pricing out many buyers as costs climb.(chris.wack@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 10:20 ET (14:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。