Falls Church, Virginia, June 08, 2021 (GLOBE NEWSWIRE) — As the U.S. economy recovers from the COVID-19 pandemic, the housing market remains strong, with the demand for homes far surpassing the inventory in many regions of the country. According to Community Associations Institute (CAI), community associations, also known as condominiums, housing cooperatives, and homeowners associations remain preferred housing options for millions of American homebuyers. In addition to the housing model’s popularity, the number of new condominium and homeowners associations is expected to increase by 4,500 this year, according to projections by the Foundation for Community Association Research, an affiliate organization of CAI. Representing nearly 25% of the housing stock in the U.S., community associations are home to more than 73 million Americans. The 2021 projections reflect a 1.3% increase in new communities.