How Well Do You Know The Real Estate Market?

Ok all of you homebuyers, sellers and realtors—are you ready to test your knowledge on recent real estate trends? Listed below is a quiz consisting of 10 multiple-choice questions regarding the current real estate market. How do you think you will fare?

Grab yourself a piece of scratch paper, number it one through ten and set your alarm clock for two minutes…and no cheating! As with any multiple-choice test, when in doubt follow your instincts and go with your first answer. Once you’ve selected your responses, or the two minutes are up (whichever comes first), click on the link below to see how many you answered correctly.

Ready? Here we go!

 

 

 

1) What percentage of recent homebuyers are married couples?homebuyer tips, home buying tips, new home owners

 

a) 28%

 

b) 66%

 

c) 49%

 

d) 85%

 

 

 

2) What percentage of sellers utilized the services of a real estate agent when selling their home?Digital Image by Sean Locke Digital Planet Design www.digitalplanetdesign.com

 

a) 88%

 

b) 95%

 

c) 50%

 

d) 75%

 

 

 

3) Which major metropolitan city lays claim to the most expensive housing market?ID-10062257

 

a) New York, NY

 

b) Chicago, IL

 

c) Los Angeles, CA

 

d) Washington, DC

 

 

 

4) In total, how many Americans make their living in some capacity within the real estate industry?CBI_group

 

a) Over 2 million people

 

b) 430,000 people

 

c) Over 4 million people

 

d) Over 8 million people

 

 

 

5) In 2013 (the most recent statistics available), what percentage of home sales were “For Sale By Owner”?coldwell banker real estate

 

a) 2%

 

b) 9%

 

c) 15%

 

d) 20%

 

 

 

6) Out of ten, how many house hunters will search online at some point for a property during the purchasing process?

 

a) 5CBI-SmartPhone

 

b) 7

 

c) 9

 

d) 10

 

 

 

7) What was the dollar amount on the most expensive property ever sold?coldwell banker real estate, hagerstown maryland real estate, new homes in hagerstown md, houses for sale in maryland, chambersburg pa real estate, martinsburg wv real estate

 

a) $150 million

 

b) $175 million

 

c) $120 million

 

d) $108 million

 

 

 

8) In which state is the aforementioned property located?USAStates

 

a) Connecticut

 

b) Florida

 

c) Nevada

 

d) California

 

 

 

9) What does the acronym “PITI” refer to in regards to real estate?coldwell banker real estate, hagerstown maryland real estate, houses for sale in hagerstown md, new homes in hagerstown md

 

a) Principal, Interest, Taxes & Insurance

 

b) Property Income Tax Instructions

 

c) Planned Investment Title Issuance

 

d) Personal Individual Treasury Investment

 

 

 

10) From the list of following features, what did most homebuyers consider to be the most important?real estate agent, coldwell banker innovations

 

a) A Fireplace

 

b) A Skylight

 

c) New Appliances

 

d) Air Conditioning

 

 

 

 

 

Ok, pencils down! How do you think you did? Click here to see the answers and tally your score!

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