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Real Estate Market Trends. Real Estate Market Trends Introduction Market forces
play a large role in the real estate market. In recent ...
... By understanding the different economic trends that a real estate market can be
at, the prospective homebuyer will be able to buy a home for a price that is ...
... to be absorbed if the recent trends in demand ... The market now seems to be picking
up the ... A research report by Shanghai Real Estate Economic Association for the ...
... article from Florida Trends, J. Lennox Scott, Chairman and CEO of John L. Scott
Real Estate, considers it to be a fact that the housing market is undergoing a ...
... If current trends continue, approximately 40 percent of ... Figure 2.1 Dallas Market
Overview 2004 Housing ... Source: Real Estate Center at Texas A&M University In ...
Submitted by Dana_Adam on March 7, 2006
Category: Miscellaneous
Words: 614 | Pages: 3
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Real Estate Market Trends
Introduction
Market forces play a large role in the real estate market. In recent years, 2002 to the present to be precise, there has been an increase in new home construction in order to meet consumer's demand for homes as the resale market cannot support the current need. This trend appears to be leveling out according to an article that appeared in U.S. Newswire on April 12, 2005 titled "National Association of Realtors(r): Home Sales to Soften with Firm Price Appreciation." Specific economic principles greatly affect the real estate market such as supply, demand and pricing and these principles will be addressed in this paper.
Supply
In many areas, there are shortages in the supply of real estate. In a press release published in U.S. Newswire, the National Association of Realtor's (NRA) chief economist, David Lereah states that "The market remains favorable for home sellers because housing inventory levels are tight." With the supply of homes being so low, individuals are willing to pay more in order to obtain a home. This also entices home owners to sell their properties larger profits. New home construction also follows in order to attempt to meet consumer's demands. This is follows the law of supply which states "Quantity supplied rises as prices rises, all other things constant." (Colander, p.90)
Demand
According to David Lereah, the current supply of available homes in the United States remains tight. He states, "The simple fact is we still have more buyers than sellers in most of the country." Since all other factors have not remained constant, the quantity demanded has not decreased in the light of the current upswing of housing costs. The law of demand as defined by our text simply states that "Quantity demand falls as price rises, other things constant." (Colander, p. 84).However, some factors have not remained constant in all localities, they are: employment rates, interest...
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