What factors most influence real estate prices?

Real estate prices are primarily influenced by supply and demand, interest rates, economic growth, population changes, and local market conditions.

What is the difference between residential and commercial real estate?

Residential real estate includes properties used for living, like houses and apartments, while commercial real estate refers to properties used for business activities, such as offices, retail spaces, and industrial buildings.

How do interest rates affect the housing market?

Higher interest rates typically increase the cost of mortgages, reducing buyer affordability and potentially slowing down sales. Conversely, lower rates can stimulate demand.

What is a 'seller's market' versus a 'buyer's market'?

A seller's market has high demand and low inventory, favoring sellers with higher prices. A buyer's market has low demand and high inventory, giving buyers more options and negotiation power.