Unlock the 2027 housing forecast for your ZIP: https://www.reventure.app/map/KJJlF3EZgj
Fannie Mae just issued an unexpected new warning for the U.S. condo market, tightening mortgage requirements starting in 2027. The new rules will require deeper reviews of HOA reserves, budgets, assessments, building conditions, and other condo association documents before certain mortgages can be approved.
That change is coming at a terrible time for condo owners. Condo prices are already falling across major housing markets like Austin, Nashville, Cape Coral, Fort Myers, Phoenix, Denver, Oakland, and Sarasota. At the same time, HOA fees, insurance costs, inventory, and homeowner association foreclosures are rising, putting even more pressure on buyers and sellers.
In Nashville, I found condos selling for $100,000 less than they did near the 2021 housing market peak. Some units are now selling barely above their 2016 prices, wiping out almost a decade of appreciation. Zillow data shows even larger condo price declines in markets like Austin, where values are down roughly 27% from peak, along with major corrections across Florida, Texas, Arizona, Colorado, and California.
The bigger issue is what this could mean for the overall U.S. housing market. Historically, condo prices have acted as a leading indicator for single-family home prices. During the last housing crash, condos weakened first. Now in 2026, condo appreciation has already turned negative nationally while single-family home values are still slightly positive.
Inventory is also rising in many of the same markets. Nashville now has more than 12,000 homes listed for sale, while condo supply in parts of downtown has surged. Similar increases in housing inventory are happening across Florida, Texas, Arizona, and other pandemic boomtowns, giving homebuyers more leverage and forcing more sellers to cut prices.
Meanwhile, there is a major divide developing between Sun Belt housing markets and parts of the Midwest and Northeast. While condo values are falling sharply in Austin, Nashville, Florida, Phoenix, and Denver, prices are still rising in markets like Rockford, Syracuse, Erie, Milwaukee, Albany, and Allentown.
In this video:
-Why Fannie Mae is tightening condo mortgage rules in 2027
-Why HOA fees and HOA foreclosures are becoming a bigger housing risk
-The U.S. cities where condo prices have fallen 10%, 20%, and even 25%+
-Nashville condo owners taking six-figure losses
-Why condo prices could be an early warning for single-family home values
-Which Midwest and Northeast housing markets are still appreciating
The gap between the cost to rent and the cost to buy is also becoming a major problem for condos. In markets like Nashville, a new one-bedroom apartment can rent for around $1,750 per month after concessions, while buying a comparable condo with a mortgage and HOA fee can cost close to $2,900 per month. That affordability gap is another reason condo demand is weakening.
To see where home prices could go in your market in 2027, download Reventure App. Reventure provides housing market data and 2027 home price forecasts for more than 30,000 ZIP codes, including home values, inventory, condo prices, overvaluation, rent data, investor metrics, and local housing trends.
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42 Comments
@ReventureConsulting · October 6, 2026 at 5:48 pm
Fannie Mae is tightening condo mortgage standards in 2027, just as condo values are already falling in a lot of U.S. markets.
Long term, this should help strengthen HOA reserves and building finances. Short term, it could make the correction worse.
Check the 2027 price forecast for your ZIP before buying:
https://www.reventure.app/map/MDxilVDT9Q
@JayDaLegendd · October 6, 2026 at 5:48 pm
HOA is a cancer get rid of it
@bigscores7237 · October 6, 2026 at 5:48 pm
The reason developers keep building is pretty obvious, which Nick ofc knows. They operate on fees, which are often not necessarily tied to final sale prices. As usual, the bagholders are the suckers who buy at the inflated initial retail price and the Main St rubes who buy the resulting MBSs — condo owner or multifamily landlord loans — from Wall St hustlers.
@Edvard.os.v2 · October 6, 2026 at 5:48 pm
I think that what we have now is a suspension of speculation rather than a suspension of disbelief. That luxxury condo in Nashville that you showed is selling at a discount because the owner paid a hefty premium for it, and the selling price is still well above the 2022 price, which I do not find reasonable for the market.
@itechfive240 · October 6, 2026 at 5:48 pm
How about the condos in Vegas
@easyfnmoney · October 6, 2026 at 5:48 pm
No videos on the plummeting rents in Georgia? Weird
@RationalEgoism · October 6, 2026 at 5:48 pm
I'm in Nashville and used to live in green hills. I recognize the locations. I'm still renting but may buy in a year or two.
@PilotVBall · October 6, 2026 at 5:48 pm
2:20 calls that a "good location". If you think that's a good location you need higher standards. That's a shithole. The most I would pay for a condo in the rat trap is $30,000 with HOA fees capped at $300 per month.
@thetrainhopper8992 · October 6, 2026 at 5:48 pm
The stock market can stay irrational longer than you can stay solvent.
@lurenzo774 · October 6, 2026 at 5:48 pm
Let them fail!
@jshricks · October 6, 2026 at 5:48 pm
HOAs need to be outlawed.
@michaelscott4519 · October 6, 2026 at 5:48 pm
I am currently in the market. I can tell you now….i will NOT buy in any HOA community, PERIOD.
@juliuscaver · October 6, 2026 at 5:48 pm
this looks like a ghost town where is everybody😃
@vascodesena · October 6, 2026 at 5:48 pm
You just made a false statement! You showed the chart of prices for various types of properties, and found one example to make your point, when if you look at the rest of the chart, you lied! Condo prices don’t recover faster except in your one instance! You lied!
@easyrider3112 · October 6, 2026 at 5:48 pm
In parts of Colorado, you can see two houses next to each other that are identical with as much as a 28% price difference. Owners out here are delusional on the value of their properties. Also, they refuse to see reality and are willing to wait until they die with it before lowering the price.
@cleverja · October 6, 2026 at 5:48 pm
HOA fee more than property tax is a joke
@tvcall0 · October 6, 2026 at 5:48 pm
Want a mind blown, delusional stat? I know people exiting medical school with $500,000 student loan debt and then they buy an $800,000 house before paying off the student loan. WTF?
@Rwn1016 · October 6, 2026 at 5:48 pm
The upside is that you will get exact information which has been impossible to get from the Hoa or their management companies when I was looking to buy a condo. It’s was so stupid that a buyer couldn’t get real hard facts. The realtor would just throw you off to some web page with some Hoa rules and administrative documents. But absolute nothing about the age of the roof etc.
@ronc4146 · October 6, 2026 at 5:48 pm
@1:28 man, that empty parking lot is wild (unless it's a business bldg on a Sunday, then I get it). We're seeing the same thing in downtown L.A., where some res unit bldg's are only actually like ~ 25% occupied & the remaining units are mostly "ghost" owners / tenants…
@bss3869 · October 6, 2026 at 5:48 pm
Someone could get rich teaching/helping how to disband hoa's just like the people who get rich getting people out of timeshares.
@BUCKStrickland-c7t · October 6, 2026 at 5:48 pm
Imagine paying for an HOA 😂 I can’t and won’t ever.
@Dohair879 · October 6, 2026 at 5:48 pm
I remember in 2007-2010 where condos got bought out because people stopped paying and they turned into apartments.
@bear_jaws · October 6, 2026 at 5:48 pm
6:10 tbf that apartment is tiny at 357sqft vs 636sqft for the condo. Still agree prices are going down and buying a condo is bad but that example is bad.
@dr.dumddum904 · October 6, 2026 at 5:48 pm
The quick answer is that — two years after Biden wandered off — we are still seeing the effects of HUGE Democrat pushed housing construction incentives that have financially slaughtered existing housing owners, condo and otherwise.
@BrisLS1 · October 6, 2026 at 5:48 pm
It feels like 2006 to me. Social Media telling you what is coming, and mainstream media, nobody else you talk to gives a darn. Back then it was Blogger. There were blog writers predicting the crash, while the NAR was putting leaflets in the newspaper saying "real estate never goes down". Well, we all know what happened. The FED continued to jack rates to the moon, crashing the housing market, and almost destroying the world..
@kyletruong489 · October 6, 2026 at 5:48 pm
Next up will be mobile home parks…
I created a clause saas that runs report for unusual clauses. ClauseEdge.
@Fokker53 · October 6, 2026 at 5:48 pm
Sellers need to get over themselves. The equity you had in 2023 was not real! Prices reflected the government printing press running on overdrive. 2018 prices are where things should be,, and get ready, it's coming.
@tvcall0 · October 6, 2026 at 5:48 pm
Think about all the people who purchased and got trapped, they all thought it was a guaranteed win. Ownership is a trap.
@combabus · October 6, 2026 at 5:48 pm
China's Evergrande real estate bust has come to the good ole USA! "American Exceptionalism" is not so exceptional.
@barberdoug6930 · October 6, 2026 at 5:48 pm
Don't walk away from Any Condo, Run as Fast as you can! There Nothing but Glorified Apartments with Never Ending Money Draining HOA'S Fees. 😅
@vascodesena · October 6, 2026 at 5:48 pm
Perhaps it’s because Fannie Mae is stuck owning some 70-80% of all home loans, because American banks are asset averse, they want the income, but not the liability, and in the end, Fannie and Freddie have a tendency to be the loan holders of only resort. They say that subsidies make prices rise, but having Freddie and Fannie, etc., has meant that businesses and banks dump all their liabilities on the back of tax payers (they run with the money and leave the carcass behind).
@uean008 · October 6, 2026 at 5:48 pm
Check out some of the HOA fees in scottsdale. Several thousands of dollars/mo. 😱 completely insane.
@SWFLtreasures · October 6, 2026 at 5:48 pm
How's Miami doing?
@jlthewiseman · October 6, 2026 at 5:48 pm
***Mortgage underwriting is down by 28%. 😳
@cm19-q2u · October 6, 2026 at 5:48 pm
$400k for a 600 sqft living space is wild. And I live in Chicago lol
@rhmagalhaes · October 6, 2026 at 5:48 pm
Instead of raising condos, it is time to bring them down…
@mrright1068 · October 6, 2026 at 5:48 pm
Great stuff as always!
@mrright1068 · October 6, 2026 at 5:48 pm
Those cities where condos are rising all had prices below $200K. There is the story. Condo values are really $150K. Wait they will get there.
@ronaldmcdonald9322 · October 6, 2026 at 5:48 pm
Good
@jlthewiseman · October 6, 2026 at 5:48 pm
***All Facts 👍🏽 Atlanta is going through the same price correction.
@theSecretStache · October 6, 2026 at 5:48 pm
Difficult to have a crash when the federal government is stimulating like peak World War 2
@MeJonTheDon · October 6, 2026 at 5:48 pm
It was always 'tarted for thos eprices to begin with. They needed to come down to reality based on low interest rates, and now need to come down again for moderaring interest rates and increased carrying costs