As Featured on PR Web
Written by PR Wire
In a press release on PR Web, Dean Jones says the, “'Demand for condominiums and town homes have increased considerably but consumers are being forced to pick through existing inventory.' Jones says fewer than 45 new construction units remain available for sale from the last development cycle, which delivered the last units in early 2010. Even with 78 resale units the total market supply is still less than 5% of the total inventory available compared with five years ago at the height of the housing boom in the center city, according to RSIR research. He believes the market may have overcorrected because it takes years for developers to deliver product, especially for high-rise inventory."