I study the market segments which I refer to as pockets. I couldn’t help but notice that the condo market was slow. Why aren’t condo’s selling? Graph
As many of you know there are a lot of strata’s that have imposed age limitations. 55+ is very common and also limits the buying profile of the potential purchaser. Certainly excludes the currently active first time buying consumer. Some older people won’t consider the purchase if its a hard sell for their estate. Also many of these buildings have pet restrictions. How many old ladies do you know that have a cat or beloved dog.
A surplus of new condo construction introduced a competitive alternative to old & used and with unformed pet & rental restrictions……