Housing Market - Page 16

The housing market refers to the segment of the economy that involves the buying, selling, and renting of residential properties. It encompasses various transactions related to residential homes, including single-family houses, condominiums, townhouses, and apartments. The housing market is influenced by factors such as supply and demand, interest rates, economic conditions, and government policies. When demand for housing exceeds supply, prices typically rise, leading to a seller's market; conversely, when supply outweighs demand, it can lead to a buyer's market. The housing market plays a critical role in the overall economy, as it affects construction, employment, consumer spending, and financial industries. Additionally, fluctuations in the housing market can impact individual wealth, as many people consider their homes a primary asset.