Condo demand in Houston, nationwide is lagging

The Houston Chronicle reports:

Jodie Sinclair’s one-bedroom condominium in 2016 Main has been on the market for six months. In the last three, no one’s even looked at it.

Sinclair thinks her unit hasn’t sold because of tougher mortgage standards for condos.

“This market is tremendously difficult, and it’s sad because 2016 Main is really a great buy,” said Sinclair, who has dropped her $110,000 asking price to $98,500.

While mortgage lenders are being more cautious across the board, the condo market is facing even tougher scrutiny.

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