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In this activity you will need to go to the realtor.com website. Follow the instructions for "Finding a Home", and check housing prices for a 3-bedroom, 2-bath house in several cities, for example, San Francisco, CA; Topeka, KS; Dallas, TX; Concord MA; and Seattle, WA. Explain why housing prices vary from city to city. Clearly explain how supply and demand affect the prices of the homes and be sure to show your work.

Objective: Identify current trends in macro and microeconomics.
Use supply and demand to analyze business activities to formulate business plans.

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The response addresses the queries posted in 601 words with references.

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The response addresses the queries posted in 601 words with references.

//Prior to analyze the housing prices in different States; it is better to understand the reasons of the varying housing prices in these states. For the given purpose, the housing prices for a particular house are analyzed in some popular states. This is done under the heading introduction.//

Introduction

The prices of housing are different in different cities. The reason for the varying prices of the housing flats in different cities is the changing rates of demand and supply in different cities and states. After reviewing the given cite, realtor.com, it is found that the prices for a 3-bedroom, 2-bath houses in various cities like San Francisco, CA; Topeka, KS; Dallas, TX; Concord MA; and Seattle, WA vary. The table given below shows the prices of the 3-bedroom and 2 bath houses in the given cities.

Cities
Price of a 3-bedroom, 2-bath house

Lowest
Highest
...

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Ashish Sharma, MBA (IP)
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  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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