A recent article in the Washington Post poses an interesting question that they say, traditionally, has had an easy answer; Do single-family detached homes appreciate faster than condominiums? Using new data provided by Trulia, they suggest that old assumptions might be giving way to changing market trends. According to the data, between February 2012 and February 2017, median condo values rose 38.4% while single family detached homes only rose 27.9%. In other words, condos are (or seem to be) appreciating faster. Predictably, the Post also reports that the National Association of Realtors and the National Association of Home Builders disagree with these findings.
“Trulia’s analysis may be controversial. It derives from the massive database it maintains on millions of housing units nationwide. Using an automated valuation model that incorporates a wide range of data available on individual houses, it estimates ongoing property values for both properties that are on the market and those that are not.”