Chapter 15 - Learning Objectives & Key Terms Flashcards
1
Q
Buyer’s Market
A
The number of available properties for sale exceeds the demand.
2
Q
Demand
A
The supply of willing and able buyers in the marketplace or lack thereof.
3
Q
Household
A
A house and its occupants regarded as a unit.
4
Q
Seller’s Market
A
The number of available properties for sale is less than the demand.
5
Q
Situs
A
People’s preferences for certain locations.
6
Q
Supply
A
The availability of a certain good or service.
7
Q
Vacancy Rate
A
The percentage of rental units that are unoccupied.
