The factors that influence the asking price for a home include recent selling prices of comparable homes in the area, demand for homes in the housing market, and available financing. This is found in the discussion of determining the selling price.
Mortgage rates, population, real income levels, and the need for space are a few examples of demand-related variables. For instance, during COVID-19, house prices in London grew while apartment prices decreased, showing a rise in demand for outdoor space for gardening and other home activities.
Five variables affect the quantity demanded (qD), including price, buyer income, the cost of comparable commodities, consumer preferences, and any future supply and pricing expectations. The quantity demanded changes along with these variables. There is no doubt that the most crucial aspect in evaluating the market value of real estate is how much comparable homes are selling for in your neighborhood.
To learn more about quantity demanded (qD) refer to:
https://brainly.com/question/1139186
#SPJ4
