Florida Real Estate Lic Exam 19-20 Questions with correct Answers 100% Verified Solution

Florida Real Estate Lic Exam 19-20 Questions with correct Answers 100% Verified Solution Market indicators include price levels, vacancy rates, and sales volume. - Correct Answer-TRUE. Price levels are indicators of new housing supply and demand for certain price ranges; vacancy rates indicate the need and demand for housing in a certain market; and sales volume can be used in estimating the direction and rate of growth. A seller's market develops when the supply and demand equilibrium is upset by excess demand. - Correct Answer-TRUE. Whenever the supply and demand equilibrium is upset by excess demand, a seller's market develops. Whenever the supply and demand equilibrium of a market is upset by excess supply, a buyer's market develops. As defined by the Census Bureau, a household consists of at LEAST two persons occupying a separate housing space. - Correct Answer-FALSE. A household, as defined by the Bureau of the Census, U.S. Department of Commerce, is any person or group of persons occupying a separate housing space. The supply of real estate is influenced by the availability of mortgage credit. - Correct Answer-FALSE. The variables that influence supply are availability of skilled labor, construction loans and financing, land, and materials. Availability of mortgage credit is a variable that influences demand.