It is predicted that there will be a slowdown for the US housing market this year, at the same time the number of new condominium communities and homeowner associations is expected to continue to rise. Professional community association managers are expecting an increase of five thousand new community associations in 2023.

Over seventy-four million Americans reside in community associations, representing twenty-nine percent of the US housing market. It has been predicted that the US community associations will grow by five thousand this year, from 358,000 to 363,000, maybe more.

The Walters Management team in Southern California is optimistic about the continued growth of community associations, as home prices slowly decline and mortgage rates increase. Housing demand continues to remain high, compared to the number of sellers. Mortgage rates are impacting the affordability of houses. There are supply chain and labour issues, which remain a problem for homebuilders. The majority of home builders are using this slower time to catch up with their projects.

Community associations have been popular housing choices since the 1970s, especially with buyers looking for condominiums and those looking to be closer to schools, transport, and the city centres. Planned communities have provided municipalities with to transfer obligations to homeowners, relying on community association management companies. This includes trash and recycling services, snow removal, street maintenance, energy, storm water management, and more.

“Eighty-nine percent of homeowners find their experience good,” said Melinda Young, the Senior Vice President at Walters Management in Southern California. “Here at Walters Management, we are passionate about providing our homeowners with first-class services and support, ensuring their needs are met. We understand that each community is unique and we tailor our services based on their needs. Eighty-nine percent of homeowners say that their association rules are there to enhance the property value and protect the community. Our team uses the latest tools and technology to ensure that association rules are met. Our team is constantly being educated and staying updated on the latest regulations and trends.”

Walters Management, a triple-accredited company backed by more than forty-five years of experience, remains a leading choice for community association management services in Q2 2023.

About Us:

Walters Management is a leading Southern California-based homeowners and community association service provider, backed by more than forty-five years of experience. This triple-accredited company comprises an experienced team of association managers, administrators, accountants, and support staff, all focusing on providing first-class services with the highest level of professionalism. Walters Management operates from four conveniently located offices helping associations reach their unique community goals with confidence. They provide seamless services and efficient management based on respect, integrity, and transparency. Full details on the company and the services they provide can be found at https://www.waltersmanagement.com.