For many young adults, condos are the only affordable path to homeownership in urban areas near jobs and entertainment.
Southern California home buyers have pulled back, purchasing fewer single-family homes in October as they struggled to afford houses that have jumped in price this year.
They didn’t, however, lose their appetite for condos.
Changing cultural attitudes and skyrocketing home prices have boosted demand for condominiums this year, experts say. For many, condos are the only affordable path to homeownership in urban areas near jobs, cafes and boutiques.