Yahoo Finance

Rising insurance costs and limited insurance availability for HOAs are driving up condominium HOA fees. Claire Boston, Yahoo Finance’s Housing Market Reporter, joins Wealth to explain this trend, noting that the condo market has become less attractive to homebuyers as a result.

Condo sales were down 5.5% through the third quarter of last year, while the number of condo listings increased by 27%, according to Redfin. Because of this, the condo market is struggling compared to the stronger single-family home market, where buyers are drawn to lower fees and greater stability.

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This post was written by Josh Lynch