The Community Associations Institute celebrates its silver anniversary this year as the nationís leading voice for condominium, cooperative and homeowners associations, which today house one out of every eight Americans. Since CAI's founding in 1973, the number of community associations in the U.S. has burgeoned from 10,000 in the industryís infancy to 150,000 today, where more than 32 million Americans reside. Maintaining home values, convenience and access to community amenities top the reasons for community associations' popularity and continued growth.
More than 50 percent of new development in large metropolitan areas in planned community settings today, and CAI forecasts continued growth of 10,000 additional community associations each year. Thousands of homebuyers choose to live in community associations each year because their number-one priority is the protection and enhancement of housing values. A home is often a consumer's largest purchase, and community association covenants and deed restrictions help protect home values.
Other strong selling factors for community associations are the pools, exercise facilities, tennis courts, golf courses, playgrounds and other amenities that homeowners might not be able to afford except in a community association setting. Community associations are popular among empty nesters, working couples, singles, retirees, first-time homebuyers and investors because they offer a variety of time-saving and lifestyle-enhancing features, such as social activities, security, affordability, landscaping and maintenance services and rental services.
Eighty-nine percent of community association members agree that community association homeownership is a satisfactury housing choice, and ninety percent of homeowners who have served on their community associationís board of directors agree that serving was a positive experience.
The Community Associations Institute is a nonprofit association created in 1973 to educate and represent the nation's 150,000 community associations—condominium associations, homeowner associations and cooperatives. CAI members include homeowners, associations and the professionals who provide products and services to them.