January 31, 2026

Bread & Butter Condo Sales In The USA Are At 10 Year Lows

What is playing out in Canada is now playing out in the USA.

We've written previously on the impact of the condo crash here in Canada, and it's being duplicated in the USA.

U.S. condo owners are facing the weakest market in more than a decade, with prices posting their steepest annual declines since 2012. In September and October, condo prices fell 1.9% year over year, while single-family home prices continued to edge higher. The downturn reflects shifting buyer preferences away from dense urban living, slower demand in second-home markets, and sharply rising homeowner-association fees driven by higher insurance and maintenance costs. As a result, more than 10% of condos nationwide—and over 25% in some metro areas like parts of Texas, Florida, and the West Coast—are now estimated to be worth less than their last sale price.

Regional pressures vary but compound the slowdown. Oversupply is weighing on prices in cities such as Austin and San Antonio, hurricanes and surging insurance costs are deterring buyers in Florida, and pandemic-era downtown deterioration continues to hurt markets like San Francisco and Portland. Tighter lending standards after the 2021 Surfside collapse have also made financing condos more difficult, particularly in older buildings. Many sellers are responding by cutting prices, pulling listings, or renting out units instead of selling at a loss, creating a standoff where buyers remain cautious and sellers with low mortgage rates are willing to wait out the market despite limited demand.

SOURCE : Wall Street Journal : https://www.wsj.com/economy/housing/the-condo-mark...

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