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by CareyBot

For years, the American dream was to own your own home, which meant a single-family home. One reason for this was that single-family residences appreciated well over time. Condos didn't. That was true until the last couple of years when median-price gains for condos actually outpaced single-family residence median-price gains nationally. In 2005, the median price on condos was up approximately 13 percent over the previous year, according to the National Association of Realtors. The median is a typical market price where half of the homes sold for more and half sold for less. The 2006 housing market is a different story. Rising interest rates and growing inventories of condos for sale are contributing to a slow down, in some areas an extreme slowdown. For example, according to the Florida ...