Buyers Want Condos

The Phoenix Business Journal reports that condo developers believe that they are giving the housing consumer what it wants with the development of all of the condo projects in the Valley.

Condo developers such as Optima Inc. Founder and President David Hovey and W Developments President David Wallach, both of Chicago, and Patrinely Group President C. Dean Partinely of Houston-- come from cities where vertical living is a major option in residential living. In metro Phoenix, condo life is just five years old.

The philosophy of these condo developers is that if housing consumers have no choice but to buy what the builders offer, and if they all offer white houses, buyers will choose white houses. The condo developers are offering a fresh housing product, and the hectic sales pace is a clear sign that the condo builders "are giving the home buyers what they want." More...