Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with our comprehensive quiz that covers essential concepts and topics. Enhance your understanding with multiple choice questions designed to test your knowledge and boost your confidence before the exam.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

In a market with low housing supply, rising prices, and sustained demand, how would this market be characterized?

A seller's market.
A buyer's market.
A balanced market.
A weak market.
A stagnant market.
A transitioning market.

The correct answer is: A seller's market.

In a market with low housing supply, rising prices, and sustained demand, it would be characterized as a seller's market. In a seller's market, there are more potential buyers than there are available properties for sale, leading to increased competition among buyers and ultimately driving prices up. This situation favors sellers as they have the upper hand in negotiations and are more likely to achieve their desired selling price. The high demand and low supply in this scenario indicate that sellers have the advantage, hence why option A - a seller's market, is the correct characterization in this case.