Term
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Definition
| supply of available properties exceeds the demand |
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Term
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Definition
| the quantity of goods or services wanted by the consumers |
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Term
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Definition
| one individual or a group of individuals living in one dwelling unit |
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Term
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Definition
| the demand for available properties exceeds the supply |
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Term
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Definition
| the quantity of goods or services offered for sale to consumers |
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Term
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Definition
| the percentage of rental units that are not occupied |
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Term
| every economy in every land in the world has to deal with the following three basic questions |
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Definition
| 1 what will be produced 2 who will do the producing 3 who will get what is produced |
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Term
| what are the five characteristics of the real estate market |
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Definition
| 1 immobility of real estate 2 the market is slow to respond to change in supply and demand 3 land is industructable 4 real estate is unique 5 government controls influence the market through zoning, building codes, taxes, and so forth |
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Term
| variables that influence supply |
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Definition
| 1availability of skilled labor 2 availability of construction loans and financing 3 availability of land 4 availability of materials |
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Term
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Definition
| there is an inverse relationship between price and the demand for real estate. When price rise, demand goes down when prices decrease demand goes up. |
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Term
| variables that influenced demand |
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Definition
| 1 price of real estate 2 population numbers and household composition 3 income of consumers 4 availability of mortgage credit 5 consumer tastes or preference |
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