We may be missing millions of homes, but there seem to be enough condominiums to go around in Florida and Texas. Boomtowns in the two states are seeing their supply of condos skyrocket, and prices fall, according to an analysis from Redfin. But would-be buyers should probably beware the looming annoyance of rules, fees, and searing weather risk.
In Tampa, the number of condos for sale leaped around 57% in July from a year earlier. In Houston, the number of condos for sale rose close to 36% in the same time period. In both metropolitan areas, prices dropped in response. The median sale price for condos in Tampa fell almost 5% in a year, to $237,750; in Houston, the typical price plunged 6.5%, to $159,000.
