The market for housing is in equilibrium when the quantity of housing demanded is equal to the quantity of housing supplied.

Question

Quizplus · Accepted Answer

This statement correctly defines market equilibrium for the housing market. When the quantity of housing demanded matches the quantity of housing supplied, the market is in balance and there is no shortage or surplus of housing. Prices should also be stable and reflect the true value of the housing being exchanged in the market.

The Market for Housing Is in Equilibrium When the Quantity