when supply exceeds demand, giving purchasers an advantage over sellers in price negotiations.
Demand
-need
-rising home prices, increasing rents and low vacancy rates.
Household
-a house and its occupants regarded as a unit.
Seller's market
when demand exceeds supply and owners have an advantage over buyers.
Situs
In law, the ___ of a property is where the property is treated as being located for legal purposes.
Supply
-available to someone
-the total amount of a product available for purchase at any specified price.
Vacancy rate
-is the percentage of all available units in a rental property, such as a hotel or apartment complex, that are vacant or unoccupied at a particular time.