The housing and property market is termed a buyer’s market when demand for both new as well as old houses and properties is very low. In this case the buyer has the advantage as the supplier is willing to sell his properties at lower rates. The buyers as a result have their choice of the low prices for housing and properties in the market.
The market demand and supply mechanism as a result indicates that when the demand for the properties increases in the market, the prices tend to increase as well. The demand can increase due to migration of people into a region or because of increase in the population in the region or even due to fall in unemployment. Similarly, when the supply of the houses or properties increases in the market, the prices for the houses and the properties tend to decrease.
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