‘87 Percentage of Condo Sales Dip from 1986 Pace
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Condominium sales accounted for 13% of all home sales last year compared to 15% in 1986, according to a survey conducted by the Chicago Title Insurance Co.
Condo sales trailed off nationwide in a year in which first-time buyers increasingly preferred single-family houses, according to John Pfister, vice president and manager of market research.
In 1986, 17% of those buying for the first time bought condos. That figure dropped to 12% in 1987, Pfister said.
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