Condo Prices Dip for the First Time in 10 Years—What It Means for Homebuyers
- Neil Caron
- Apr 11
- 2 min read
🏁 ReadySetLoan Market Watch
For the first time in a decade, condo prices across the U.S. saw a year-over-year decline—down 0.26% in March, according to data from Intercontinental Exchange (ICE). And that’s not the only shift happening: Home price growth as a whole is cooling off, bringing with it a fresh wave of opportunities—and questions—for buyers.
At ReadySetLoan, we’re always tracking market movements to help buyers navigate the course with confidence. Let’s break down what this means and how it could impact your path to homeownership.
🐷 RSL Piggy Points: What You Need to Know
Condo prices declined in 97 of the 100 largest U.S. markets, marking a rare turn in the real estate race.
Sunbelt states, especially Florida, are seeing the sharpest declines—North Port is down 9.4%, Lakeland 7%, and Tampa nearly 6%.
Nationwide affordability has slightly improved in 95% of U.S. markets compared to a year ago.
Overall home price growth is cooling, from 2.7% in February to 2.2% in early March.
Inventory is up 27% year-over-year, giving buyers more choices and easing pressure.
Why the Shift Matters
ICE’s Andy Walden explains that while falling condo prices can affect current homeowners’ equity, they’re also offering “modest relief” to those looking to buy. For first-time buyers or those priced out of single-family homes, condos could become a more accessible on-ramp to homeownership.
This affordability shift is happening alongside steady mortgage rates (hovering between 6.6% and 6.7%) and an increase in available inventory. That means more options and less competition—a silver lining for determined buyers in a still-challenging market.
🐷 RSL Perspective: Smart Moves in a Cooling Market
This rare dip in condo prices is an important reminder: timing and education matter. As the market adjusts, buyers who understand their options and get prepped early can take advantage of favorable conditions—especially in urban or Sunbelt areas where prices are softening.
If you’ve been on the sidelines waiting for the market to shift—this might just be your moment.
Ready to Make Your Move?
At ReadySetLoan, we’re more than mortgage experts—we’re your educational partner on the journey to homeownership. Whether you're eyeing a condo as a first step or just trying to understand today’s pricing trends, we’re here to guide you with clarity, tools, and encouragement.
🏁 Let’s cross the finish line together.
Start your homebuying journey with ReadySetLoan today at readysetloan.com.
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