Pacaso Report Suggests Surge in Co-Ownership Trend

Key Points:
–

In a recent study by second-home solution company Pacaso, co-ownership trend jumps 21% in the most active counties in 2023.

–

Pacaso analyzed data from 10 of the most active counties in the US, with this trend correlating with the rise in the Housing Price Index (HPI) in these counties.

–

A steep increase in the HPI in these counties may drive more people to look for affordable housing solutions in co-ownership.

Hot Take

The housing market rollercoaster continues its nerve-wracking ride! Apparently, due to the ever-climbing hills of the Housing Price Index, people are turning to their pals saying, “House prices are rising, how about we co-own like an 80’s synth band?” And thus, the co-ownership trend saw a jump of 21% in 2023. Give or take, these percentage points are the equivalent of that awkward childhood friend resurfacing and asking you to split a timeshare in the Poconos. Generally, this trend shows that when housing prices shake up more than a bartender on a Friday night, co-ownership is one way people seem to be pacing the tune. So, get your spare keys ready – you might just be up next in the co-owning conga line!

Original article: https://www.inman.com/2024/02/14/co-ownership-trends-offer-an-affordability-solution-pacaso/