Second home buyers are decreasing and the market for that niche is slowing down. However, condo buying or renting went down just a tad bit.

A new National Association of Realtors study estimates that sales of vacation homes in 2007 fell 31 percent, to 740,000, from 2006. But sales of condos dipped only slightly—down 2.8 percent—while sales of detached homes dropped 38 percent.

The good news is that there was a 8 percent increase from 2006.

Why does a condo sell well? Lister below are the reasons:

  • Low maintenance: people actually get paid to make your condo building look good and clean
  • Public amenities: this include common pools and clubhouses
  • Cheaper rate than a full blown house: easier to resell, too

So what are you waiting for? See your nearest Condo seller.

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