{"id":17719,"date":"2020-08-27T13:41:23","date_gmt":"2020-08-27T13:41:23","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17719"},"modified":"2020-08-27T13:41:23","modified_gmt":"2020-08-27T13:41:23","slug":"millennials-could-prompt-condo-resurgence","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/","title":{"rendered":"Millennials Could Prompt Condo Resurgence"},"content":{"rendered":"<h1 class=\"page-title \">Millennials Could Prompt Condo Resurgence<\/h1>\n<p>&nbsp;<\/p>\n<div class=\"pane-node-body pane pane--nodebody\">\n<div class=\"pane__content\">\n<div class=\"field field--body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>The average sale price of condominiums in 2019 was 16% lower than the average sale price of single-family residences, according to data from CoreLogic based on 25 of the largest housing markets. Those lower condo prices could make them a growing draw for millennials and first-time home buyers, CoreLogic reports.<\/p>\n<p>Millennails could be driven \u201ctoward buying condos because they tend to be more affordable than single-family homes and because condos typically come with a lower maintenance burden and are mostly located in urban cores,\u201d CoreLogic notes in its report.<\/p>\n<p>About 40% of all condo purchase mortgage applications last year were from first-time home buyers, compared to 33% of all non-condo purchase mortgage applications by this same buyer segment, CoreLogic reports. Further, 47% of all condo purchase mortgage applications were from millennials in 2019, up 2% from 2018.<\/p>\n<p>Downsizing baby boomers are also showing an increasing draw to condos, the report notes.<\/p>\n<p>The following five states saw the highest condo share of sales in 2019:<\/p>\n<ul>\n<li>Hawaii: 46%<\/li>\n<li>Washington, D.C.: 42%<\/li>\n<li>Massachusetts: 20%<\/li>\n<li>Florida: 18%<\/li>\n<li>Illinois: 17%<\/li>\n<\/ul>\n<p>By metro level, Austin, Texas, had the largest annual increase in condo sales in 2019 with a 12% increase.<\/p>\n<p>\u201cGiven worsening affordability challenges in many markets, condos could be a viable option for many,\u201d CoreLogic reports. \u201cIn the coming years, younger millennials (age 30 or below) are likely to drive much of the condo demand as they are a very large group. Still, there will be more condo demand than supply as young millennials approach peak household formation and home buying age.\u201d<\/p>\n<p>However, condo supply remains tight. The inventory for condos plunged to four months in December 2019, which was the lowest level since 2006.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"pane-node-field-news-source pane pane--nodefield-news-source\">\n<div class=\"pane__content\">\n<div class=\"field clearfix field--news-source\">\n<div class=\"field-label\">Source:<\/div>\n<div class=\"field-items\">\n<div class=\"field-item even\">\u201c<a href=\"https:\/\/www.corelogic.com\/blog\/2020\/8\/millennials-are-driving-the-demand-for-condos-as-sales-increase-in-certain-markets-2019-data-reveals.aspx\" target=\"_blank\" rel=\"noopener noreferrer\" data-di-id=\"di-id-37496d1d-ad587264\">Millennials Are Driving the Demand for Condos as Sales Increase in Certain Markets\u20142019 Data Reveals<\/a>,\u201d CoreLogic (Aug. 17, 2020)<\/div>\n<div>\u00a9National Association of REALTORS\u00ae<br \/>\nReprinted with permission<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Millennials Could Prompt Condo Resurgence &nbsp; The average sale price of condominiums in 2019 was 16% lower than the average sale price of single-family residences, according to data from CoreLogic based on 25 of the largest housing markets. Those lower condo prices could make them a growing draw for millennials and first-time home buyers, CoreLogic &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-17719","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Millennials Could Prompt Condo Resurgence - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Millennials Could Prompt Condo Resurgence\",\"datePublished\":\"2020-08-27T13:41:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/\"},\"wordCount\":297,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/\",\"name\":\"Millennials Could Prompt Condo Resurgence - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"datePublished\":\"2020-08-27T13:41:23+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/millennials-could-prompt-condo-resurgence\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Millennials Could Prompt Condo Resurgence\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\",\"name\":\"Real Estate Agent and Sales in PA - 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.\",\"sameAs\":[\"http:\\\/\\\/www.anthonydidonato.net\"],\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Millennials Could Prompt Condo Resurgence - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/","twitter_misc":{"Written by":"admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/#article","isPartOf":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Millennials Could Prompt Condo Resurgence","datePublished":"2020-08-27T13:41:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/"},"wordCount":297,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"keywords":["Anthony DiDonato","News","Real Estate","tips"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/","url":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/","name":"Millennials Could Prompt Condo Resurgence - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website"},"datePublished":"2020-08-27T13:41:23+00:00","breadcrumb":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/millennials-could-prompt-condo-resurgence\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.anthonydidonato.net\/wordpress\/"},{"@type":"ListItem","position":2,"name":"Millennials Could Prompt Condo Resurgence"}]},{"@type":"WebSite","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website","url":"http:\/\/www.anthonydidonato.net\/wordpress\/","name":"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","description":"Properties and Real Estate for Sale","publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.anthonydidonato.net\/wordpress\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","url":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","contentUrl":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","caption":"admin"},"logo":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg"},"description":"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. 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