Question

Among other factors , the price a buyer is willing to pay for a house is...

Among other factors , the price a buyer is willing to pay for a house is a function of.

Homework Answers

Answer #1
  • Market price is the price a buyer is willing to pay for a house and is also accepted by the seller.
  • Price is determined by the supply and demand, in what condition the house is in, and how has a similar house been sold in the market without any value add on.
  • Factors that affect house prices are economic growth, availability of funds, unemployment, building cost.
  • If demand of houses increases than its supply, price increases and if the demand falls, price falls.
  • This happens when all other factors remain same.

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