It s almost impossible to sell a condo these days

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-09-18T20:31:35.304Z • Permanent link

Selling a condo has become increasingly difficult, with buyers hesitating at the prospect of rising Homeowners Association (HOA) fees. According to recent data from the National Association of Realtors (NAR), condo sales have plummeted by 20% over the past year, with many sellers struggling to find buyers willing to pay top dollar despite lower prices. At the forefront of this trend is David Rosenberg, a prominent real estate analyst who has warned of a condo market crash. Rosenberg attributes the downturn to the growing burden of HOA fees, which he estimates will continue to rise by 10% annually for the next five years. "It's not just about the price tag," Rosenberg said in an interview. "Buyers are becoming increasingly risk-averse, and HOA fees are a major concern for many.

Meanwhile, the condo market in Miami Beach has become particularly notorious, with prices dropping by as much as 30% in the past year. According to data from the Miami Beach Board of Realtors, the median sales price for a condo in the area has fallen from $500,000 to just $350,000. The reason for this decline is largely attributed to the rise of HOA fees, which have increased by as much as 20% in some areas. "It's a perfect storm," said Maria Rodriguez, a real estate agent in Miami Beach. "Buyers are looking for deals, but sellers are struggling to make ends meet due to rising HOA fees.

The condo market in California has also been hit hard, with the median sales price for a condo in Los Angeles falling by as much as 25% in the past year. According to data from the California Association of Realtors, the average HOA fee in the state has risen by 15% over the past year, with some areas seeing increases as high as 30%. "It's a major concern for many buyers," said John Lee, a real estate analyst at JLL. "They're looking for affordable housing options, but HOA fees are a major obstacle.

The condo market downturn has significant implications for affected companies, research communities, and markets. For example, the National Association of Realtors has reported a decline in condo sales, which has resulted in a decline in revenue for many real estate agents and brokers. "This trend is likely to continue unless HOA fees come down," said Rosenberg. "Buyers are becoming increasingly risk-averse, and sellers are struggling to make ends meet." Additionally, the decline in condo sales has also had a ripple effect on the broader housing market, with some analysts predicting a wider economic downturn.

Furthermore, the condo market downturn has significant implications for policy environments, particularly in the areas of housing affordability and regulatory reform. "This trend highlights the need for policymakers to address the issue of rising HOA fees," said Lee. "Buyers need affordable housing options, and sellers need to be able to compete in a fair market." The National Association of Realtors has called for policymakers to take action to address the issue of rising HOA fees, and some cities are already taking steps to reform their HOA regulations.

The condo market downturn is part of a larger pattern of declining housing affordability in the United States. According to data from the Joint Center for Housing Studies of Harvard University, the national median home price has risen by 50% over the past decade, while wages have only increased by 10%. This has resulted in a decline in housing affordability, with many buyers struggling to qualify for mortgages. "This trend is not unique to the condo market," said Lee. "It's a broader issue that affects the entire housing market.