Texas homebuyers are heavily favoring condos, and sales and prices are making huge jumps, according to the Texas Association of Realtors' 2016 Texas condominium mid-year sales report. All of the state's metro areas saw an increase in condo sales from January through May 2016. In Houston, 1,674 condos were sold, an 11.2% increase year-over-year. The Texas Association of Realtors says the jump comes down to retirees and first-time buyers seeking a more affordable alternative to single-family homes. Houses also come with a huge amount of upkeep and lack the amenities offered in condos. The demand has driven a 13% year-over-year price increase, yet the sector still maintains an affordable median price of $160k.
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