Condo converters continue to influence the dynamics of multi-family investments nationally as reported this month by the National Association of REALTORS (NAR). The September issue of "Insight" reported a 450% increase in condo conversion activity in a year-over-year comparison. Condo-conversion investors have dominated markets such as Greater Washington D.C., South Florida and San Diego.
"Condo conversion" refers to the acquisition of a traditional multi-family property and selling off individual units.
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