In simple terms, the residential real estate market can be broken down into smaller sections, or sub-categories, that make it easier to understand. These sections are based on things like:
Density: This means how many homes or apartments are in one area. For example, some neighborhoods might have houses spread far apart (like single-family homes), while others have many homes close together (like apartment buildings or high-rises).
Income: This refers to how much people can afford to pay for homes. Some homes are built for people with lower incomes (more affordable housing), others for middle-income families, and some are for wealthier buyers (luxury homes).
Use/type: This just describes the type of home—whether it’s a single house for one family, a row of houses that share walls (townhouses), or a large building with many units (condominiums or apartments).
By organizing homes into these categories, it helps people like buyers, sellers, and developers understand which part of the market …
