[jyl]

Perhaps condos/townhomes lost the mojo last year, while houses kept rising?

I recall in the early 1990s California RE crash, L.A. condos were pounded much worse than houses. That was, I think, because developers were stuck with half-finished condo projects that they had to complete, and then to sell, using every trick and discount and freebie they could. And condos are fairly fungible anyway. So you're try to sell your 10 year old 2-bdrm condo in Palms, say, and two blocks down a developer was offering brand new 2-bdrm new condos for less - it all just spiraled down.