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24 Cards in this Set
- Front
- Back
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Absorption
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short-term capture or amount of leasing or sales in the short-term (as opposed to "share of the market" which is long-term capture
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Active (seller's) market
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a market characterized by growing demand, and a lag in supply, thus an increase in prices
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Capture
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the rate that a property or market leases or sells
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Competitive supply
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the goods or services that compete with a defined good or service
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Demand
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the desire and ability to purchase good/services
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Depressed (buyer's) market
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one characterized by a drop and demand, with a relative oversupply, and thus a decline in prices
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Disaggregation
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differentiation of the subject versus other properties
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Economic base analysis
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study of the sector of a market that imports money & exports goods or services from a defined area
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Fall-out demand
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tenants/owners moving from a higher to lower class building
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Household
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people who live in one housing unit
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Long-term (secular) cycle
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function of longer term demographic changes in a market such as employment, population, income, etc
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Market analysis
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identification and study of the market for a particular economic good/service
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Market definition
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buyers & sellers who contact one another for transactions for a particular good or service
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Market disequilibrium
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too much supply or demand relative to the other
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Market equilibrium
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when supply and demand are in relative balance
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Market segmentation
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the process of identifying and analyzing submarkets in a larger market
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Move-up demand
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tenants/buyers moving from a lower class to a higher class building
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Real estate cycle
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successive periods of expansion, peak, contraction, and trough in the real estate sector of an economy
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Share of the market
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long-term capture
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Short-term cycle
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market interaction over a shorter time horizon, largely a function of interest rates
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Strong market
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also a seller's market; one characterized by much activity
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Submarket
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smaller specialized markets taken from a larger market
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Supply & Demand
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the amount of a good/service available for sale. The availability of a real estate product (supply)
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Weak market
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also a buyer's market, characterized by little activity
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