We would expect the same for our location for a variety of reasons.
First, the pre-crisis building frenzie saw condo development in excessive numbers. A large portion of the current condo sales inventory is comprised of these properties. Additionally, the inventory absorbtion rate, in most locations have seen a much greater interest in single family homes than condos.
This in part may be directly related to today's new buyer's vision that includes value, quality, and opportunity. Today's buyers have concern about excessive overhead and are often scared off by the frequently high fees associated with condo living.
Coupled with the uncertainty created by high vacancy rates and risk associated with this, many potential buyers are considering other options.