Unit 15 - Real Estate Market and Analysis Flashcards
1
Q
Buyer’s Market
A
The supply of available properties exceed the demand
2
Q
Demand
A
The quantity of goods or services wanted by consumers.
3
Q
Household
A
One individual or group of individuals who live in one dwelling unit.
4
Q
Seller’s Market
A
The demand for available properties exceeds the supply.
5
Q
Situs
A
Relationships and influences created by location of a property that affect value (e.g. accessibility, personal preference)
6
Q
Supply
A
The quantity of goods and services
7
Q
Vacancy Rate
A
The percentage of rental units not occupied
