Chapter 19 - The Real Estate Market Flashcards
1
Q
Buyer’s market
A
When the supply of available properties exceeds the demand.
2
Q
Demand
A
The desire and ability to purchase or rent goods and services.
3
Q
Household
A
Any person or group of persons occupying a separate housing space.
4
Q
Seller’s market
A
When the demand for available properties exceeds the supply.
5
Q
Supply
A
The quantity of goods or services offered for sale to consumers.
6
Q
Vacancy rate
A
The percentage of rental units that are not occupied.
