{"id":408890,"date":"2021-01-05T15:27:27","date_gmt":"2021-01-05T20:27:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=408890"},"modified":"2021-01-05T15:27:27","modified_gmt":"2021-01-05T20:27:27","slug":"2021-housing-growth-projected-for-u-s-condominium-and-homeowners-association-developments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/2021-housing-growth-projected-for-u-s-condominium-and-homeowners-association-developments\/","title":{"rendered":"2021 HOUSING GROWTH PROJECTED FOR U.S. CONDOMINIUM AND HOMEOWNERS ASSOCIATION DEVELOPMENTS"},"content":{"rendered":"
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Falls Church, VA, Jan. 05, 2021 (GLOBE NEWSWIRE) — The number of new condominium and homeowners associations is expected to increase by 4,500 this year, according to projections by the Foundation for Community Association Research<\/a>, an affiliate organization of Community Associations Institute (CAI)<\/a>. Representing nearly 25% of the housing stock in the U.S., community associations, also known as condominiums, housing cooperatives, and homeowners associations, are home to more than 73 million Americans. The 2021 projections reflect a 1.3% increase in new communities.<\/p>\n

\u201cCommunity associations, much like millions of businesses, continue to face difficult financial and operational challenges due to the COVID-19 pandemic, but the new research is a positive sign that the housing model remains strong,\u201d says Dawn M. Bauman, CAE, executive director of the Foundation and CAI\u2019s senior vice president of government and public affairs.<\/p>\n

Since the 1970s, community associations have been a popular housing choice for people around the world\u2014especially condominium buyers seeking close proximity to city centers, public transportation, and schools. Planned communities provide owners the benefit of shared amenities such as pools, walking trails, and other recreation facilities that may otherwise be unattainable. According to the National and State Statistical Review for Community Association Data<\/i><\/a>, published by the Foundation, planned communities give local municipalities the ability to transfer the obligation to provide services\u2014trash and recycling removal, snow removal, streetscape beautification, sidewalk and street maintenance and lighting, stormwater management, and more\u2014to homeowners.<\/p>\n

In the 2020 Homeowner Satisfaction Survey<\/a>, a biennial, nationwide report conducted by Zogby Analytics that provides a better understanding of today\u2019s condominiums and homeowners associations\u2014residents said the following about their community association experience:\u00a0<\/p>\n