Real estate is no different than any other commodity; whether we’re talking about gold, silver, lumber or pork belly futures. Real estate is yet another commodity ruled by the economic laws of supply and demand. Understanding the ebb and flow of the market, seeing the changes in prices, volume, and the rate at which inventory is absorbed, helps both the buyer and the seller in a real estate transaction. Better decisions can be made as to pricing your home for sale relative to the past competitive sales, as well as making better decisions when you are a buyer.
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